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 53.53% per annum.
- SYK price at the close of May 6, 2024 was $325.50 and was lower than the bottom border of the primary price channel by $70.66 (17.84%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 14.71% per annum.
- SYK price at the close of May 6, 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 9, 2022
End date: July 21, 2023
a = 3.9219
b = 0.0012
s = 0.0424
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0012) – 1
= 53.53%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0424) – 1
= 18.50%
June 9, 2022 calculations
Top border of price channel:
Exp(Y780)
= Exp(a + b × X780 + 2 × s)
= Exp(a + b × 1,129 + 2 × s)
= Exp(3.9219 + 0.0012 × 1,129 + 2 × 0.0424)
= Exp(5.3329)
= $207.03
Bottom border of price channel:
Exp(Y780)
= Exp(a + b × X780 – 2 × s)
= Exp(a + b × 1,129 – 2 × s)
= Exp(3.9219 + 0.0012 × 1,129 – 2 × 0.0424)
= Exp(5.1631)
= $174.71
July 21, 2023 calculations
Top border of price channel:
Exp(Y1,059)
= Exp(a + b × X1,059 + 2 × s)
= Exp(a + b × 1,536 + 2 × s)
= Exp(3.9219 + 0.0012 × 1,536 + 2 × 0.0424)
= Exp(5.8109)
= $333.93
Bottom border of price channel:
Exp(Y1,059)
= Exp(a + b × X1,059 – 2 × s)
= Exp(a + b × 1,536 – 2 × s)
= Exp(3.9219 + 0.0012 × 1,536 – 2 × 0.0424)
= Exp(5.6412)
= $281.80
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 53.53% per annum.
- SYK price at the close of May 6, 2024 was $325.50 and was lower than the bottom border of the primary price channel by $70.66 (17.84%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: December 1, 2022
End date: January 30, 2024
a = 5.0523
b = 0.0004
s = 0.0497
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0004) – 1
= 14.71%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0497) – 1
= 21.99%
December 1, 2022 calculations
Top border of price channel:
Exp(Y901)
= Exp(a + b × X901 + 2 × s)
= Exp(a + b × 1,304 + 2 × s)
= Exp(5.0523 + 0.0004 × 1,304 + 2 × 0.0497)
= Exp(5.6421)
= $282.06
Bottom border of price channel:
Exp(Y901)
= Exp(a + b × X901 – 2 × s)
= Exp(a + b × 1,304 – 2 × s)
= Exp(5.0523 + 0.0004 × 1,304 – 2 × 0.0497)
= Exp(5.4433)
= $231.21
January 30, 2024 calculations
Top border of price channel:
Exp(Y1,191)
= Exp(a + b × X1,191 + 2 × s)
= Exp(a + b × 1,729 + 2 × s)
= Exp(5.0523 + 0.0004 × 1,729 + 2 × 0.0497)
= Exp(5.8020)
= $330.95
Bottom border of price channel:
Exp(Y1,191)
= Exp(a + b × X1,191 – 2 × s)
= Exp(a + b × 1,729 – 2 × s)
= Exp(5.0523 + 0.0004 × 1,729 – 2 × 0.0497)
= Exp(5.6032)
= $271.28
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 14.71% per annum.
- SYK price at the close of May 6, 2024 was inside the secondary price channel.