11 Best Medical Device Stocks to Buy Now

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6. Stryker Corporation (NYSE:SYK)

Number of Hedge Fund Holders: 70

Stryker Corporation (NYSE:SYK) is a medical technology company that offers products and services in Neurotechnology, Medical and Surgical, and Orthopedics and Spine.

The company’s medical devices and products include surgical navigation systems, surgical equipment, emergency medical equipment, endoscopic and communications systems, neurosurgical and neurovascular devices, Mako Robotic-Arm Assisted technology, and other products. Stryker Corporation (NYSE:SYK) holds around 13,000 global patents to shield its products from replication.

On May 5, Wall Street analyst Lee Hambright from Bernstein revisited Stryker Corporation (NYSE:SYK). The analyst maintained a Buy rating on the stock with a $450.00 price target, based on the company’s solid performance and future growth potential.

Stryker Corporation’s (NYSE:SYK) revenue increased 10.1% organically in fiscal Q1 2025, exceeding expectations by 3%. The growth was consistent across various segments and regions, pointing to a robust business model. The company has also effectively managed a $200 million tariff impact and adjusted its guidance to cover the Inari acquisition. Its Inari integration is on track, and future product launches are anticipated to drive further growth.

According to the analyst, Stryker Corporation (NYSE:SYK) is set to experience continued above-market growth, supported by factors such as favorable demographics, the adoption of robotic-assisted surgery, and strong procedure volumes.

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