Stryker Co. (NYSE:SYK) Receives $398.40 Consensus Target Price from Brokerages

Shares of Stryker Co. (NYSE:SYK) have been given an average rating of “Moderate Buy” by the twenty brokerages that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $398.40.

A number of brokerages have recently issued reports on SYK. Robert W. Baird raised their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Wolfe Research initiated coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Wells Fargo & Company raised their target price on Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group raised their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th.

Insider Buying and Selling at Stryker

In other news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The shares were 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 approximately $3,715,540. This trade represents a 17.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,781 shares of company stock valued at $24,612,275. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Stryker

Several large investors have recently made changes to their positions in SYK. Dunhill Financial LLC lifted its holdings in shares of Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the last quarter. Centennial Bank AR raised its holdings 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 last quarter. Darwin Wealth Management LLC purchased a new position in Stryker in the 3rd quarter worth approximately $36,000. HBW Advisory Services LLC purchased a new position in Stryker in the 3rd quarter worth approximately $42,000. Finally, Hara Capital LLC purchased a new position in Stryker in the 3rd quarter worth approximately $42,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Up 0.7 %

Shares of NYSE:SYK opened at $384.98 on Wednesday. The stock’s 50-day moving average price is $370.60 and its 200-day moving average price is $352.99. Stryker has a 12-month low of $285.79 and a 12-month high of $398.20. The stock has a market capitalization of $146.76 billion, a P/E ratio of 41.27, a price-to-earnings-growth ratio of 2.94 and a beta of 0.94. 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 announced its quarterly earnings data 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 firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the firm earned $2.46 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities analysts anticipate that Stryker will post 12.06 earnings per share for the current year.

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.