Stryker price target raised to $381 from $364 at Wells Fargo

Wells Fargo raised the firm’s price target on Stryker to $381 from $364 and keeps an Overweight rating on the shares. The firm notes Q1 sales and EPS beat expectations and 2024 guidance was raised from 7.5%-9.0% to 8.5%-9.5% organic sales growth and EPS was also raised from $11.70-$12.00 to $11.85-$12.05. The midpoint of the new EPS guidance is above consensus.