Stryker added to ‘Conviction List’, price target raised to $442 at Needham

Needham raised the firm’s price target on Stryker (SYK) to $442 from $409 and keeps a Buy rating on the shares. The firm is also adding the stock to its Conviction List. The company has a number of new products that should drive strong growth during 2025, including its Pangea trauma plating system, LIFEPAK 35 monitor/defibrillator, and Mako Shoulder and Spine applications, the analyst tells investors in a research note. Stryker also expects significant margin improvement of about 100 bps in 2025 and anticipates an increase its M&A activity, with deals that should serve as positive catalysts, the firm added.