Needham & Company LLC Increases Stryker (NYSE:SYK) Price Target to $409.00

Stryker (NYSE:SYK) had its price objective lifted by investment analysts at Needham & Company LLC from $393.00 to $409.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the medical technology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 14.80% from the stock’s previous close.

Several other research firms also recently weighed in on SYK. Piper Sandler reaffirmed an “overweight” rating and set a $380.00 price target on shares of Stryker in a research note on Tuesday, September 10th. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Stifel Nicolaus decreased their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Robert W. Baird lifted their price target on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Truist Financial lifted their price target on shares of Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Down 2.0 %

Shares of NYSE SYK opened at $356.28 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 0.95. The company has a market cap of $135.77 billion, a P/E ratio of 38.19, a PEG ratio of 2.79 and a beta of 0.91. Stryker has a 1 year low of $264.85 and a 1 year high of $374.63. The firm has a 50-day simple moving average of $359.90 and a two-hundred day simple moving average of $344.06.

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, topping the consensus estimate of $2.78 by $0.09. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.46 earnings per share. Research analysts anticipate that Stryker will post 12.05 earnings per share for the current year.

Insiders Place Their Bets

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on 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 transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 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 transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,068 shares of company stock valued at $65,151,372. 5.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tandem Investment Advisors Inc. raised its position in shares of Stryker by 8.2% in the third quarter. Tandem Investment Advisors Inc. now owns 266,041 shares of the medical technology company’s stock worth $96,110,000 after acquiring an additional 20,199 shares during the period. Portside Wealth Group LLC acquired a new position in shares of Stryker in the third quarter worth about $215,000. Hara Capital LLC acquired a new position in shares of Stryker in the third quarter worth about $42,000. Kornitzer Capital Management Inc. KS raised its position in shares of Stryker by 1.9% in the third quarter. Kornitzer Capital Management Inc. KS now owns 8,084 shares of the medical technology company’s stock worth $2,920,000 after acquiring an additional 152 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Stryker by 6.2% in the third quarter. Principal Financial Group Inc. now owns 398,422 shares of the medical technology company’s stock worth $143,934,000 after acquiring an additional 23,329 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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.