Stryker (NYSE:SYK) Rating Reiterated by Piper Sandler

Stryker (NYSE:SYK)‘s stock had its “overweight” rating restated by equities researchers at Piper Sandler in a research note issued on Tuesday, Benzinga reports. They currently have a $380.00 target price on the medical technology company’s stock. Piper Sandler’s target price would indicate a potential upside of 3.73% from the company’s current price.

A number of other research analysts also recently issued reports on SYK. The Goldman Sachs Group initiated coverage on shares of Stryker in a research report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price target on the stock. Needham & Company LLC increased their price target on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Truist Financial dropped their price objective on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Wolfe Research assumed coverage on Stryker in a research note on Tuesday. They set an “outperform” rating and a $405.00 target price for the company. Finally, BTIG Research boosted their price target on Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $378.58.

Stryker Stock Performance

Shares of Stryker stock opened at $366.35 on Tuesday. The stock has a market cap of $139.61 billion, a price-to-earnings ratio of 41.82, a P/E/G ratio of 2.77 and a beta of 0.91. Stryker has a twelve month low of $249.98 and a twelve month high of $366.69. The company’s fifty day moving average is $340.89 and its 200 day moving average is $342.21. 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 (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the company posted $2.54 EPS. The business’s revenue was up 8.5% on a year-over-year basis. Sell-side analysts forecast that Stryker will post 12 EPS for the current year.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 600 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares in the company, valued at $3,219,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The disclosure for this sale can be found here. Insiders sold a total of 210,600 shares of company stock valued at $68,330,400 over the last ninety days. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Stryker

A number of hedge funds and other institutional investors have recently modified their holdings of SYK. Burkett Financial Services LLC bought a new position in Stryker during the fourth quarter valued at about $25,000. Centennial Bank AR increased its stake 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 worth $32,000 after purchasing an additional 48 shares during the last quarter. DSM Capital Partners LLC bought a new stake in shares of Stryker in the 4th quarter worth approximately $34,000. Central Pacific Bank Trust Division purchased a new position in Stryker in the first quarter valued at approximately $39,000. Finally, Private Wealth Management Group LLC bought a new position in Stryker during the fourth quarter valued at $40,000. Hedge funds and other 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.