Stryker Corporation (SYK) Gains Strength From Procedure Volumes and Capital Equipment Backlog

Stryker Corporation (NYSE:SYK) is one of the 10 best healthcare equipment stocks to buy according to hedge funds.

On February 2, the price target on Stryker Corporation (NYSE:SYK) was raised from $462 to $469 by Barclays. The firm reaffirmed its Overweight rating on the stock that yields a revised upside potential of more than 23%. Without any deviations from the model, the firm believes there is significant upside for the company’s growth estimates for 2026.

Stryker Corporation (SYK) Gains Strength From Procedure Volumes and Capital Equipment Backlog

On January 30, Needham analyst Mike Matson reiterated his Buy rating for Stryker Corporation (NYSE:SYK). The analyst also raised his price target on the stock from $448 to $454, which now offers a revised upside potential of almost 20%.

Matson highlighted the company’s fourth quarter revenue and EPS outperformance, acknowledging an impressive performance across the board. He noted that such broader strength resulted from high procedure volumes, new offerings, and the company’s capital equipment demand backlog.

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.

While we acknowledge the risk and potential of SYK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SYK and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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