Piper Sandler reiterates Stryker stock rating on Mako strength

Piper Sandler reiterates Stryker stock rating on Mako strength

Gold slides as U.S.-Iran conflict lifts oil, hawkish Fed bets grow Investing.com - Piper Sandler reiterated an Overweight rating and $420.00 price target on Stryker (NYSE:SYK), citing the company’s continued market leadership in robotics and joint replacement procedures. The stock currently trades at $329.78 with a P/E ratio of 38.3, and InvestingPro analysis suggests the company appears undervalued relative to its Fair Value estimate. The firm noted that Stryker remains the standout performer in the orthopedic market, particularly with its Mako robot and large joint procedures.

The company continues to gain market share in hips and knees. This strong execution is reflected in the company’s 8.8% revenue growth over the last twelve months, supporting its $126.4 billion market capitalization. An InvestingPro tip highlights Stryker as a prominent player in the Healthcare Equipment & Supplies industry, with 11 additional tips available to subscribers.

Piper Sandler expects Stryker to continue capturing share in the hip and knee replacement markets throughout this year and into 2027. The firm’s market checks indicated the company’s strong positioning relative to competitors. The analyst firm noted that Zimmer Biomet has set low expectations for the year but continues to face market challenges.

Stryker’s execution in the marketplace remains strong by comparison. Piper Sandler did not provide specific details on individual companies in its market assessment beyond the general competitive dynamics in the orthopedic device sector. In other recent news, Stryker Corp. has been in the spotlight due to several significant developments.

The company faced disruptions from a cyberattack that affected its first-quarter 2026 earnings, leading Argus to lower its price target to $350. However, Argus later raised the target to $370, expressing confidence in Stryker’s recovery and revenue growth in the latter half of 2026. Leerink also adjusted its price target for Stryker to $407, noting that much of the revenue shortfall from the cyberattack is expected to be recuperated later in the year.

Additionally, Stryker launched the TPX HD, a new power tool for orthopedic procedures, which features an innovative design for improved performance in confined spaces. The company’s Mako robotic system has gained attention as a leading platform for ambulatory surgery centers, with BTIG maintaining a Buy rating and a $379 price target. These developments underscore the company’s resilience and ongoing innovation in the medical technology field.

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