Stryker Co. (NYSE:SYK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Stryker Co. (NYSE:SYK) have received a consensus recommendation of “Moderate Buy” from the twenty ratings firms that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $393.65.

SYK has been the topic of a number of research reports. UBS Group raised their price target on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Royal Bank of Canada raised their price target on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Citigroup raised their price target on Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Canaccord Genuity Group raised their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th.

Stryker Stock Performance

Shares of SYK stock opened at $388.34 on Friday. The stock’s 50-day moving average is $362.38 and its two-hundred day moving average is $346.42. The firm has a market cap of $148.04 billion, a price-to-earnings ratio of 41.62, a PEG ratio of 2.92 and a beta of 0.91. Stryker has a 1 year low of $282.35 and a 1 year high of $390.59. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last issued 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 $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the company posted $2.46 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. Analysts predict that Stryker will post 12.06 earnings per share for the current year.

Insider Activity

In other news, insider Viju Menon sold 600 shares of Stryker 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 sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. The trade was 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, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 67,381 shares of company stock worth $24,825,275. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Centennial Bank AR grew its stake in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new stake in Stryker in the 3rd quarter worth approximately $36,000. Central Pacific Bank Trust Division purchased a new stake in Stryker in the 1st quarter worth approximately $39,000. HBW Advisory Services LLC purchased a new stake in Stryker in the 3rd quarter worth approximately $42,000. Finally, Hara Capital LLC purchased a new stake in Stryker in the 3rd quarter worth approximately $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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.