Needham & Company Downgrades Stryker (SYK) to Hold

Needham & Company downgraded Stryker (NYSE: SYK) from Buy to Hold.

Analyst Mike Matson commented, "The potential for SYK to do a larger M&A transaction has been central to our investment thesis. While we think this still remains the case, we believe investor sentiment toward larger deals has shifted and we're now concerned that a larger deal would be received negatively, rather than positively. Additionally, we expect the MAKO total knee roll-out to be slow, we expect EPS growth in line with peers in 2016, and we now view SYK shares as fairly valued. As a result, we are downgrading SYK to Hold."

For an analyst ratings summary and ratings history on Stryker click here. For more ratings news on Stryker click here.

Shares of Stryker closed at $96.90 yesterday.

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