Leerink Partners reiterated an Outperform rating on Stryker (NYSE: SYK), and raised the price target to $125.00 (from $111.00), following the company's 1Q Results. Revenue growth of +6.1% organic was ~100bps above consensus thinking, as the Neuro/Spine division outperformed due to growth in the ischemic stroke market.

Analyst Richard Newitter commented, "Our confidence increases in SYK's top-tier rev growth, margin expansion, and DD EPS growth prospects following a solid 1Q beat which was highlighted by strong performances across the US businesses, margin upside, & raised '16 sales/ EPS guidance. Our '16-'17 estimates increase and update for recent acquisitions (Sage, Physio-Control, Synergetics). Our PT goes to $125 (vs. $111) on higher '17E EPS and given recent group multiple expansion."

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Shares of Stryker closed at $110.73 yesterday.