Stryker (NYSE:SYK) Rating Increased to Buy at StockNews.com

Stryker (NYSE:SYK) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

SYK has been the subject of several other reports. Wolfe Research assumed coverage on Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price for the company. Wells Fargo & Company upped their price target on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on shares of Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Evercore ISI lifted their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, UBS Group increased their price objective on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Performance

SYK stock opened at $390.08 on Thursday. The stock’s 50 day simple moving average is $363.45 and its 200 day simple moving average is $346.97. Stryker has a 12-month low of $282.35 and a 12-month high of $392.70. The firm has a market cap of $148.71 billion, a P/E ratio of 41.26, a P/E/G ratio of 2.93 and a beta of 0.91. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $5.37 billion. During the same period last year, the business posted $2.46 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts predict that Stryker will post 12.06 EPS for the current year.

Insiders Place Their Bets

In related news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This trade represents a 17.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Viju Menon sold 600 shares of the company’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 value 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 approximately $3,219,495. This trade represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock valued at $24,825,275 in the last quarter. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Stryker by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after purchasing an additional 309,592 shares in the last quarter. State Street Corp raised its stake in shares of Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after acquiring an additional 316,404 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after acquiring an additional 813,311 shares in the last quarter. FMR LLC grew its position in Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after acquiring an additional 215,782 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Stryker by 2.9% in the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after buying an additional 66,482 shares in the last quarter. 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.