Stryker (NYSE:SYK) PT Lowered to $365.00

Stryker (NYSE:SYK) had its target price decreased by investment analysts at Evercore ISI from $370.00 to $365.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the medical technology company’s stock. Evercore ISI’s target price suggests a potential upside of 9.92% from the company’s previous close.

A number of other research firms have also issued reports on SYK. Citigroup raised their target price on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. TD Cowen raised their target price on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Stifel Nicolaus raised their target price on Stryker from $350.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Robert W. Baird raised their target price on Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, BTIG Research raised their target price on Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $370.32.

Stryker Stock Performance

Shares of NYSE SYK opened at $332.07 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. The firm has a market cap of $126.50 billion, a price-to-earnings ratio of 37.91, a P/E/G ratio of 2.68 and a beta of 0.89. The business’s 50-day simple moving average is $337.55 and its 200-day simple moving average is $334.50. Stryker has a 52 week low of $249.98 and a 52 week high of $361.41.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.14 EPS. As a group, equities research analysts expect that Stryker will post 11.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stryker

Several institutional investors have recently bought and sold shares of the business. Beese Fulmer Investment Management Inc. raised its position in Stryker by 3.3% in the 2nd quarter. Beese Fulmer Investment Management Inc. now owns 41,865 shares of the medical technology company’s stock valued at $14,245,000 after purchasing an additional 1,332 shares during the last quarter. Marcum Wealth LLC raised its position in Stryker by 4.1% in the 2nd quarter. Marcum Wealth LLC now owns 944 shares of the medical technology company’s stock valued at $321,000 after purchasing an additional 37 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in Stryker by 1.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 66,205 shares of the medical technology company’s stock valued at $22,526,000 after purchasing an additional 673 shares during the last quarter. First Hawaiian Bank raised its position in Stryker by 10.8% in the 2nd quarter. First Hawaiian Bank now owns 13,293 shares of the medical technology company’s stock valued at $4,523,000 after purchasing an additional 1,293 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Stryker by 57.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,091 shares of the medical technology company’s stock valued at $711,000 after buying an additional 767 shares during the period. Institutional investors own 77.09% of the company’s stock.

About Stryker

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.