Stryker: Reaching Interesting Levels
Stryker Corporation's shares have dropped 10% since March due to a weak first quarter and cybersecurity issues. Despite this, the company maintains its full-year growth guidance of 8.0-9.5%. The recent acquisition of Amplitude Vascular Systems is expected to enhance its cardiovascular portfolio while keeping leverage manageable.
- ▪Stryker shares have declined 10% since March amid a soft Q1 and cybersecurity concerns.
- ▪Q1 organic sales growth slowed to 2.4% due to a cyber incident.
- ▪Management expects 8.0-9.5% organic growth for the full year.
- ▪Stryker's acquisition of Amplitude Vascular Systems expands its cardiovascular exposure.
- ▪Valuation has compressed to 20-21x earnings, making current levels more attractive.
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