TD Cowen Maintains a Buy on Stryker Corporation (SYK) With a $435 PT

Stryker Corporation (NYSE:SYK) is one of the top low volatility healthcare stocks to buy now. In a report released on July 20, Josh Jennings from TD Cowen maintained a Buy rating on Stryker Corporation (NYSE:SYK) with a price target of $435.00.

Jim Cramer on Stryker Corporation (SYK): “I Don't Like It Enough”

A medical team wearing surgical masks and gloves carrying out a hip or knee joint replacement surgery with the help of surgical navigation systems.

The analyst based the optimistic rating on the company’s strong performance in recent quarters and the anticipation of continued momentum.

Jennings stated that Stryker Corporation (NYSE:SYK) has consistently experienced robust growth, reporting a notable 10% organic growth in Q1, which translates to around 11.1% when adjusted for a selling day headwind.

He further stated that Stryker Corporation (NYSE:SYK) is positioned against one of its easier comparisons from 2024 despite an expected slowdown in growth to 8.8% for Q2.

According to Jennings, the company has historically achieved double-digit growth even in the backdrop of challenging benchmarks, suggesting that the present market estimates are well-founded.

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

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 several other products. Stryker Corporation (NYSE:SYK) holds around 13,000 global patents to shield its products from replication.

While we acknowledge the potential of SYK to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SYK and that has 100x 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.