Stryker (NYSE:SYK) Price Target Raised to $442.00

Stryker (NYSE:SYK) had its price objective boosted by equities researchers at Needham & Company LLC from $409.00 to $442.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the medical technology company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 17.95% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and issued a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Robert W. Baird upped 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. Finally, Truist Financial upped their price objective on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $404.35.

Stryker Price Performance

Shares of NYSE:SYK opened at $374.75 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker has a twelve month low of $285.79 and a twelve month high of $398.20. The stock’s 50 day moving average is $372.88 and its 200-day moving average is $354.65. The firm has a market capitalization of $142.86 billion, a price-to-earnings ratio of 40.19, a PEG ratio of 2.84 and a beta of 0.94.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping 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 analyst estimates of $5.37 billion. During the same period in the prior year, the firm earned $2.46 earnings per share. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. Sell-side analysts forecast that Stryker will post 12.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 42.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Institutional Trading of Stryker

Several institutional investors and hedge funds have recently modified their holdings of the business. Retirement Systems of Alabama raised its holdings in shares of Stryker by 0.9% in the 3rd quarter. Retirement Systems of Alabama now owns 75,427 shares of the medical technology company’s stock valued at $27,249,000 after acquiring an additional 637 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new stake in shares of Stryker in the 3rd quarter valued at about $8,907,000. Synovus Financial Corp raised its holdings in shares of Stryker by 17.4% in the 3rd quarter. Synovus Financial Corp now owns 14,797 shares of the medical technology company’s stock valued at $5,346,000 after acquiring an additional 2,191 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Stryker by 13.9% in the 3rd quarter. Tidal Investments LLC now owns 17,478 shares of the medical technology company’s stock valued at $6,314,000 after acquiring an additional 2,139 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its position in shares of Stryker by 13.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 44,795 shares of the medical technology company’s stock valued at $16,183,000 after purchasing an additional 5,361 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

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.