J.P. Morgan Reiterates Neutral on Stryker

J.P. Morgan is out with its report today on Stryker SYK, reiterating Neutral. In a note to clients, J.P. Morgan writes, "Stryker reported a 2Q result that was mostly in line, with sales of $2,046M (+16.3%, +5.7% organic) coming in about $40M above Street consensus, reflecting a strongerthan- expected Fx tailwind (440bps) and upside performances from Stryker Medical (beds and stretchers) and Neurovascular. EPS of $0.90 (+12.6%) were in line with the consensus, though a penny below our forecast as GM weakness was offset by a lower tax rate (+$0.01). Reiterate Neutral." Shares of SYK closed Tuesday at $20.55, up 1.33% from Monday's close.