Stryker initiated with an Outperform at Credit Suisse. Credit Suisse analyst Matt Miksic initiated Stryker with an Outperform rating and a price target of $195 as part of his broader research note on Medical Supplies and Devices partially titled “No Disruption, No Alpha”, calling the stock his top pick for exposure to Robotic Surgery medicine. The analyst believes that the “sustainable share-gaining power of robot surgery” is “underappreciated” by the market, adding that Stryker has captured about 6% of market share in the U.S. knee market since taking over the platform in 2014 and is positioned to take another 2% in share by 2020.
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