Piper Sandler Maintains Overweight Rating on Stryker Corporation (SYK)

Stryker Corporation (NYSE:SYK) is one of the 12 best Medical Devices stocks to invest in according to Hedge Funds.

On January 27, Matthew O’Brien from Piper Sandler reiterated his Overweight rating on Stryker Corporation (NYSE:SYK) with a price target of $420. His target price estimate represents over 17% upside for investors.

O’Brien shed light on the company’s new handheld orthopedic robot, identified as Mako RPS, after connecting with a physician who had seen the product. According to the initial study, this new device will enable the company to establish its presence in lower-cost markets, including ambulatory surgical centers and select international markets. This will help the business compete with Zimmer Biomet and its THINK Surgical partner in specific segments.

Back on January 5, Evercore ISI also maintained an Outperform rating on the stock while lowering the target price from $405 to $390. The firm attributed its rating to observed recoveries across end markets, along with expectations of healthy capital expenditures during 2026 within the medical technology space.

Stryker Corporation (NYSE:SYK) is a medical technology company, structured into 2 segments, i.e., MedSurg & Neurotechnology, and Orthopaedic. The company aims to offer innovative products and solutions across these areas to improve patient outcomes. Some of its offerings include surgical equipment, navigation systems, endoscopic and communications systems, emergency medical equipment, thoracolumbar systems, interbody systems, and degenerative therapies.

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Disclosure: None. This article is originally published at Insider Monkey.