Stryker (NYSE:SYK) Price Target Raised to $418.00

Stryker (NYSE:SYK) had its price target increased by equities research analysts at Barclays from $402.00 to $418.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical technology company’s stock. Barclays‘s price objective indicates a potential upside of 16.33% from the stock’s current price.

A number of other research firms have also recently commented on SYK. Morgan Stanley upped their price objective on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Stifel Nicolaus reduced their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Piper Sandler reiterated an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research report on Wednesday. Needham & Company LLC boosted their price target on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Royal Bank of Canada boosted their price target on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $393.40.

Stryker Stock Down 1.1 %

Shares of NYSE SYK traded down $4.10 during mid-day trading on Thursday, hitting $359.33. 534,873 shares of the stock traded hands, compared to its average volume of 1,252,151. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. Stryker has a 52 week low of $264.85 and a 52 week high of $374.63. The company has a market cap of $136.89 billion, a price-to-earnings ratio of 41.09, a PEG ratio of 2.73 and a beta of 0.91. The stock has a fifty day moving average price of $359.79 and a 200-day moving average price of $343.98.

Stryker (NYSE:SYK) last announced its quarterly earnings data 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 business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.46 earnings per share. Research analysts anticipate that Stryker will post 12 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Stryker

Institutional investors have recently made changes to their positions in the stock. Centennial Bank AR lifted its holdings in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Stryker in the 1st quarter worth $39,000. HBW Advisory Services LLC acquired a new position in Stryker in the 3rd quarter worth $42,000. Grove Bank & Trust lifted its holdings in Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after buying an additional 56 shares in the last quarter. Finally, DT Investment Partners LLC raised its stake in shares of Stryker by 114.3% in the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after purchasing an additional 72 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

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.