Deutsche Bank Maintains Buy On Stryker Shares, $92 PT


In a research report issued today, Deutsche Bank analyst Kristen Stewart maintained a Buy rating on Stryker Corp (NYSE:SYK) with a price target of $92.00.

Stewart observed, “Stryker’s sales were $2,389M, ahead of Thomson Reuters Consensus at $2,320M and DB $2,324M. The upside relative to the Street and our estimate was across all three business units, particularly MedSurg. Sales were 11.1% on a reported basis, which consisted of a positive benefit of 10.2% from vol/mix and 3.4% from acqs, partially offset by negative 2.3% price and 0.2% FX. Cash EPS of $1.15, $0.01 ahead of Street/DBe at $1.14. Relative to our model, gross margins were weaker though explainable due to MedSurg strength. The lower tax rate helped.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Kristen Stewart has a total average return of -1.6% and a 33.3% success rate. Stewart is ranked #2494 out of 3336 analysts.

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