The shares of this medical device company were just upgraded by JP Morgan to ‘Overweight’, and eight analysts have increased their earnings estimates for the company in the past 30 days.
Stryker Corporation (SYK)
From Sound Advice
Stryker Corporation (SYK) is best known for its orthopedic devices for artificial knees and hips. The company provides a diverse array of innovative medical technologies, including reconstructive, medical and surgical, as well as neuro-technological and spine products.
Stryker’s healthy balance sheet has allowed it to make many acquisitions in the recent past which are now paying off, such as Mako whose surgical robots have been used in 50% of the 9,400 Mako knee surgeries since the launch in mid-2016.
In 2017, it purchased Novadaq Technologies to enhance its position in the endoscopy market and expand Stryker’s capabilities in imaging. Stryker also acquired the majority of Vexim in 2017 to expand its portfolio of minimally invasive technologies and complements Stryker’s interventional spine business.
Gray Cardiff, Sound Advice, www.soundadvice-newsletter.com, 800-825-7007, January 2, 2018