Stryker price target raised to $369 from $366 at BTIG

BTIG raised the firm’s price target on Stryker to $369 from $366 and keeps a Buy rating on the shares. The company delivered strong and diversified results in Q1, with standout segments that included Mako, Instruments, Medical, Endoscopy, and Trauma offset by more modest Knee and Hip growth, the analyst tells investors in a research note. Valuation on Stryker shares remains high at 29-times expected next-12-months’ EPS relative to large-cap MedTech peers, but these results underscore the strength and diversity of its business, the firm added.