Deutsche Bank Maintains Hold Rating On Stryker

According to Deutsche Bank, Stryker (NYSE: SYK) hasn't stopped believing in diversification.

Deutsche Bank said that mgmt reiterates guidance and positive outlook at investor day. “At its investor meeting, Stryker reiterated its financial guidance and gave an upbeat view of its strategy (particularly its strength in diversification), its current businesses, the pipeline, and opportunities ahead. However, mgmt was more somber on the orthopedic market outlook citing continued pricing pressure and near-term depressed unit volume. There is value in diversification though believe such value is already reflected in the stock. Given the relative premium multiple, we see the stock as fairly valued and maintain our Hold rating.”

Stryker closed yesterday at $64.00.