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Stryker Corporation (NYSE:SYK) shares are trading marginally lower on Wednesday.
The company announced the addition of two new products to its Foot & Ankle portfolio – the Osteotomy Truss System and Ankle Truss System, recently acquired from 4WEB Medical.
The new Ankle Truss System, featuring Arthrosphere and Arthrocube implants, is a groundbreaking solution for restoring limb length and ensuring structural stability during tibiotalocalcaneal fusions.
“The addition of the ATS and the integration of Artelon reflects our commitment to providing surgeons with enhanced orthopaedic solutions to achieve the best possible patient outcomes,” said Michael Rankin, vice president of marketing and medical education of Stryker’s Foot & Ankle business.
Utilizing Truss Implant Technology, the ATS implants have an open architecture designed to deliver robust support and facilitate successful fusion.
The Osteotomy Truss System includes Cotton, Evans, and Utility wedges, providing a complete solution for various osteotomy procedures. Designed for internal bone fixation and osteotomies in the foot and ankle, this system is now available for clinical use.
Yesterday, Piper Sandler analyst Matt O’Brien maintained Stryker with an Overweight rating and a $380 price target.
In addition, Wolfe Research analyst Mike Polark initiates coverage on Stryker with an Outperform rating and announces a $405 price forecast.
According to Benzinga Pro, SYK stock has gained over 10% in 2023. Investors can gain exposure to the stock via iShares U.S. Medical Devices ETF (NYSE:IHI) and Trust for Professional Managers Jensen Quality Growth ETF (NYSE:JGRW).
Price Action: SYK shares are trading lower by 0.22% to $364.25 at last check Wednesday.
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