Stryker price target raised to $394 from $383 at BTIG

BTIG raised the firm’s price target on Stryker (SYK) to $394 from $383 and keeps a Buy rating on the shares. The company delivered strong diversified results in Q3 with revenue of $5.494B topping estimates, the analyst tells investors in a research note. Stryker’s implied organic growth is 7.5% – 8.0% which is below the company’s historical trend in a seasonally strong quarter, but while comps are challenging from Q4, the company continues to expect healthy procedural dynamics, favorable pricing, and product growth drivers that allow it to sustain its premium growth, the firm added.