Stryker (NYSE:SYK) Earns Outperform Rating from Royal Bank of Canada

Stryker (NYSE:SYK)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They presently have a $425.00 target price on the medical technology company’s stock, up from their prior target price of $400.00. Royal Bank of Canada’s price target suggests a potential upside of 13.33% from the company’s current price.

Several other research firms have also recently weighed in on SYK. Canaccord Genuity Group lifted 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. Truist Financial lifted their price target on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. UBS Group lifted their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Evercore ISI upped their target price on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Citigroup upped their target price on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $404.35.

Stryker Stock Down 0.3 %

NYSE:SYK opened at $375.01 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The company has a market cap of $142.96 billion, a PE ratio of 40.23, a PEG ratio of 2.89 and a beta of 0.94. Stryker has a 52-week low of $285.79 and a 52-week high of $398.20. The stock has a 50-day simple moving average of $372.42 and a 200 day simple moving average of $354.51.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share 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 during the quarter, compared to the consensus estimate of $5.37 billion. During the same period last year, the company earned $2.46 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts expect that Stryker will post 12.06 EPS for the current fiscal year.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % 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 Stryker stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Dunhill Financial LLC boosted its position in shares of Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares in the last quarter. Centennial Bank AR boosted its position in shares of 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 purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Stryker in the 3rd quarter worth approximately $36,000. HBW Advisory Services LLC bought a new stake in shares of Stryker in the 3rd quarter worth approximately $42,000. Finally, Hara Capital LLC bought a new stake in shares of Stryker in the 3rd quarter worth approximately $42,000. 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.