JPMorgan Chase & Co. Issues Positive Forecast for Stryker (NYSE:SYK) Stock Price

Stryker (NYSE:SYK) had its target price hoisted by investment analysts at JPMorgan Chase & Co. from $420.00 to $445.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical technology company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 12.68% from the stock’s current price.

Other analysts have also issued reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research note on Wednesday. JMP Securities restated a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Evercore ISI upped their target price on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Barclays raised their price target on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, BTIG Research upped their price target on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $412.55.

Stryker Stock Down 1.2 %

Stryker stock opened at $394.92 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $150.55 billion, a P/E ratio of 42.33, a P/E/G ratio of 2.68 and a beta of 0.95. The firm has a 50 day moving average price of $376.44 and a 200-day moving average price of $361.98. Stryker has a twelve month low of $310.74 and a twelve month high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 16.34% and a return on equity of 23.07%. During the same quarter last year, the firm earned $3.46 earnings per share. As a group, equities analysts predict that Stryker will post 12.06 EPS for the current year.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Parnassus Investments LLC bought a new position in shares of Stryker in the 3rd quarter worth about $762,798,000. International Assets Investment Management LLC boosted its position in shares of Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after purchasing an additional 852,496 shares in the last quarter. RTW Investments LP purchased a new stake in shares of Stryker in the 3rd quarter worth approximately $143,392,000. State Street Corp increased its position in Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after buying an additional 316,404 shares in the last quarter. Finally, FMR LLC raised its stake in Stryker by 3.0% during the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after buying an additional 215,782 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Company Profile

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.