TD Cowen cuts Stryker stock price target to $298 on margin concerns

TD Cowen has reduced its price target for Stryker (NYSE:SYK) to $298 from $355, citing concerns about gross margins, although it maintained a Hold rating. This revision comes despite other analysts having varying outlooks for the medical technology company, with some raising and others lowering price targets due to factors like strong organic growth, cyberattacks, and supply chain issues. Stryker is currently trading near its 52-week low, and InvestingPro suggests it remains undervalued.