Stryker Corporation (SYK)
Stryker Corporation is an American multinational medical technologies corporation based in Kalamazoo, Michigan. Stryker's products include implants used in joint replacement and trauma surgeries; surgical equipment and surgical navigation systems; endoscopic and communications systems; patient handling and emergency medical equipment; neurosurgical, neurovascular and spinal devices; as well as other medical device products used in a variety of medical specialties.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 53.08% per annum.
- SYK price at the close of November 19, 2024 was $388.68 and was lower than the bottom border of the primary price channel by $104.99 (21.27%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 22.46% per annum.
- SYK price at the close of November 19, 2024 was inside the secondary price channel.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of SYK price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: June 8, 2022
End date: July 21, 2023
a = 4.1583
b = 0.0012
s = 0.0433
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0012) – 1
= 53.08%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0433) – 1
= 18.93%
June 8, 2022 calculations
Top border of price channel:
Exp(Y641)
= Exp(a + b × X641 + 2 × s)
= Exp(a + b × 931 + 2 × s)
= Exp(4.1583 + 0.0012 × 931 + 2 × 0.0433)
= Exp(5.3311)
= $206.67
Bottom border of price channel:
Exp(Y641)
= Exp(a + b × X641 – 2 × s)
= Exp(a + b × 931 – 2 × s)
= Exp(4.1583 + 0.0012 × 931 – 2 × 0.0433)
= Exp(5.1578)
= $173.78
July 21, 2023 calculations
Top border of price channel:
Exp(Y921)
= Exp(a + b × X921 + 2 × s)
= Exp(a + b × 1,339 + 2 × s)
= Exp(4.1583 + 0.0012 × 1,339 + 2 × 0.0433)
= Exp(5.8071)
= $332.65
Bottom border of price channel:
Exp(Y921)
= Exp(a + b × X921 – 2 × s)
= Exp(a + b × 1,339 – 2 × s)
= Exp(4.1583 + 0.0012 × 1,339 – 2 × 0.0433)
= Exp(5.6337)
= $279.71
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 53.08% per annum.
- SYK price at the close of November 19, 2024 was $388.68 and was lower than the bottom border of the primary price channel by $104.99 (21.27%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: December 1, 2022
End date: November 19, 2024
a = 4.8975
b = 0.0006
s = 0.0530
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0006) – 1
= 22.46%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0530) – 1
= 23.61%
December 1, 2022 calculations
Top border of price channel:
Exp(Y763)
= Exp(a + b × X763 + 2 × s)
= Exp(a + b × 1,107 + 2 × s)
= Exp(4.8975 + 0.0006 × 1,107 + 2 × 0.0530)
= Exp(5.6180)
= $275.35
Bottom border of price channel:
Exp(Y763)
= Exp(a + b × X763 – 2 × s)
= Exp(a + b × 1,107 – 2 × s)
= Exp(4.8975 + 0.0006 × 1,107 – 2 × 0.0530)
= Exp(5.4060)
= $222.75
November 19, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(4.8975 + 0.0006 × 1,826 + 2 × 0.0530)
= Exp(6.0172)
= $410.42
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(4.8975 + 0.0006 × 1,826 – 2 × 0.0530)
= Exp(5.8052)
= $332.01
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 22.46% per annum.
- SYK price at the close of November 19, 2024 was inside the secondary price channel.