Cowen & Co. Remains a Buy on Stryker

By Ryan Adsit

In a report issued on July 28, Josh Jennings from Cowen & Co. reiterated a Buy rating on Stryker (NYSE: SYK), with a price target of $160. The company’s shares closed on Friday at $147.80, close to its 52-week high of $148.15.

According to TipRanks.com, Jennings is a 4-star analyst with an average return of 6.4% and a 73.3% success rate. Jennings covers the Healthcare sector, focusing on stocks such as Corindus Vascular Robotics, Boston Scientific Corp, and Zimmer Biomet Holdings.

Currently, the analyst consensus on Stryker is Moderate Buy and the average price target is $147.50, representing a -0.2% downside.

In a report issued on July 27, Stifel Nicolaus also reiterated a Buy rating on the stock with a $158 price target.

Based on Stryker’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $3.01 billion and quarterly net profit of $391 million. In comparison, last year the company earned revenue of $2.84 billion and had a net profit of $380 million.

Based on the recent corporate insider activity of 108 insiders, corporate insider sentiment is neutral on the stock. Most recently, in May 2017, Roch Doliveux, a Director at SYK bought 46 shares for a total of $6,240.

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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.