Barclays Cuts PT on Stryker Corporation (SYK), Calls Q1 Results Mixed

Stryker Corporation (NYSE:SYK) is one of the best robotic surgery stocks to buy. Barclays cut the price target on Stryker Corporation (NYSE:SYK) to $394 from $469 on May 4, maintaining an Overweight rating on the shares. The firm told investors in a research note that the company’s fiscal Q1 results were mixed and below the Street’s estimates. It also stated that a “significant back-end loaded ramp” is required to attain the company’s full-year guidance for the target cut.

In a separate development, Truist cut the price target on Stryker Corporation (NYSE:SYK) to $380 from $395 on April 15, reaffirming a Hold rating on the shares. The rating update came as part of a broader research note previewing fiscal Q1 results in MedTech, with the firm stating that it anticipates fiscal Q1 performances to be in line or better than what feels like an anxious investor sentiment around Q1 volumes. It further stated in a research note that a premium valuation is justified for the stock given its view of the company’s high-quality, above-average revenue growth profile. However, it also prefers to have higher conviction in EPS upside and faster earnings growth potential.

Stryker Corporation (NYSE:SYK) is a medical technology company that offers products and services that help improve patient and health outcomes. Its operations are divided into the MedSurg and Neurotechnology and the Orthopedics and Spine segments.

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