Argus analyst David Toung keeps a Buy rating and $380 price target on Stryker but notes that the company is seeing higher sales and margins thanks to its new product launches, the recovery in elective procedural volume, and increased product supply. The feedback at Stryker’s Investors Day also suggests that GLP-1 weight-loss drugs may help high-BMI patients achieve eligibility criteria for joint-replacement surgeries, the firm tells investors in a research note, raising its FY24 EPS view by 6c to $11.96 and its FY25 view by 10c to $13.40 to reflect Stryker’s updated guidance.
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