JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Stryker (NYSE:SYK) Stock

Stryker (NYSE:SYKFree Report) had its price target hoisted by JPMorgan Chase & Co. from $375.00 to $420.00 in a research report report published on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical technology company’s stock.

Other analysts also recently issued reports about the company. Barclays boosted their target price on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Wolfe Research started coverage on shares of Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective on the stock. Robert W. Baird raised their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday. Truist Financial upped their price target on shares of Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a report on Monday, October 14th. Finally, Evercore ISI raised their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average price target of $392.60.

Get Our Latest Analysis on SYK

Stryker Stock Performance

NYSE:SYK opened at $363.48 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. Stryker has a fifty-two week low of $264.85 and a fifty-two week high of $374.63. The firm’s fifty day simple moving average is $359.79 and its 200-day simple moving average is $343.98. The stock has a market cap of $138.47 billion, a PE ratio of 41.49, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91.

Stryker (NYSE:SYKGet Free Report) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.09. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $2.46 earnings per share. Analysts expect that Stryker will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.88%. Stryker’s payout ratio is 36.53%.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock valued at $71,811,372 over the last quarter. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC grew its stake in shares of Stryker by 66,967.5% during the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after acquiring an additional 852,496 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after purchasing an additional 813,311 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in Stryker by 146.9% during the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after purchasing an additional 522,817 shares during the last quarter. American Century Companies Inc. increased its holdings in Stryker by 287.6% during the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after purchasing an additional 375,166 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Stryker by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after buying an additional 309,592 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Company Profile

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Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.

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Analyst Recommendations for Stryker (NYSE:SYK)

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