Stocks on Tech Trader

Summary:

SYK is showing solid recovery momentum after the March cyberattack with operations normalized, intact guidance, and analysts still targeting well over $400 on average, so we stay long from our 332.3 entry.

The daily chart confirms a constructive setup: after the sharp March selloff to the low-320s tied to the cyber incident, price has stabilized, put in a higher low, and broke out on April 8 with a strong close above $340 on increased volume. We're up roughly 2.5% in four trading days since our entry on the 6th, and the stock is holding that ground nicely into the close today around $340.

Near-term risks exist with Q1 earnings on April 30—past reactions have been mixed even on beats—but the company has reiterated full-year targets and the manufacturing disruption appears behind us. Recent analyst notes include some target trimming (Goldman, Citi, etc.), yet the consensus remains Buy with average targets in the $420 range, implying 20%+ upside from here. That aligns with Stryker's long-term secular tailwinds in orthopedics, robotics, and medtech innovation.

In my account this is a core holding in healthcare; we're not chasing it aggressively higher today but have no reason to take profits or flip short while the trend is turning constructive and the fundamental story is intact. Cash would only make sense if we saw clear distribution or a failed breakout, which isn't happening. We'll monitor volume and any pre-earnings leaks closely, but right now the edge is with staying long.