Stryker price target raised to $408 from $407 at BTIG

BTIG raised the firm’s price target on Stryker (SYK) to $408 from $407 and keeps a Buy rating on the shares as part of a broader research note previewing Q3 results for MedTech industry. Headlines weighing on sentiment in MedTech include cuts to Medicaid, ACA subsidies not being renewed, and concerns on the broader economy, as investors fear that fewer patients may seek out medical treatment, while the latest threat of high tariffs on China imports adds to uncertainty, but even so, the results in Q may prove better than feared as much of the headline risk is slated to take effect further in the future, the analyst tells investors in a research note.