Needham Issues a Hold Rating on Stryker Corporation

By Jason Carr

In a report released today, Michael Matson from Needham assigned a Hold rating to Stryker Corporation (NYSE: SYK). The company’s shares opened today at $152.22.

Matson wrote:

“SYK is acquiring ENTL for $24.00 per share (a 50% premium) or $662M of cash which is 7.1x consensus 2017E sales. ENTL is the leader in minimally invasive surgical (MIS) treatment of ear, nose, and throat (ENT) diseases and manufactures products that specifically cover nasal procedures. We think that the deal makes strategic and financial sense for SYK since it broadens SYK’s ENT offering and we expect ENTL’s sustained double-digit growth to be accretive to SYK’s overall growth in coming years.”

According to, Matson is a 5-star analyst with an average return of 8.1% and a 58.1% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.

Stryker Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $158.40.

Stryker Corporation’s market cap is currently $56.76B and has a P/E ratio of 32.39. The company has a book value ratio of 5.4444.

Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is neutral on the stock.

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Stryker Corp. is engaged in providing medical technology products and services. It operates through the following segments: Orthopaedics, MedSurg and Neurotechnology and Spine. The Orthopaedics segment provides reconstructive and trauma implant systems.