Stryker (NYSE:SYK – Get Free Report) had its price target raised by research analysts at Canaccord Genuity Group from $420.00 to $435.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the medical technology company’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 11.40% from the company’s previous close.
SYK has been the topic of a number of other research reports. BTIG Research upped their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Finally, Evercore ISI upped their target price on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $416.40.
Check Out Our Latest Stock Analysis on SYK
Stryker Stock Down 0.2 %
Stryker (NYSE:SYK – Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.07% and a net margin of 16.34%. During the same quarter in the prior year, the firm posted $3.46 EPS. Equities analysts anticipate that Stryker will post 12.06 EPS for the current year.
Insider Activity at Stryker
In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.90% of the company’s stock.
Institutional Investors Weigh In On Stryker
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Zone Wealth Advisors LLC increased its holdings in shares of Stryker by 1.2% in the fourth quarter. Blue Zone Wealth Advisors LLC now owns 20,912 shares of the medical technology company’s stock valued at $7,529,000 after purchasing an additional 243 shares during the last quarter. WD Rutherford LLC increased its holdings in shares of Stryker by 1.6% in the fourth quarter. WD Rutherford LLC now owns 10,630 shares of the medical technology company’s stock valued at $3,827,000 after purchasing an additional 163 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $55,769,000. Principal Securities Inc. increased its holdings in shares of Stryker by 21.5% in the fourth quarter. Principal Securities Inc. now owns 7,584 shares of the medical technology company’s stock valued at $2,731,000 after purchasing an additional 1,340 shares during the last quarter. Finally, Everhart Financial Group Inc. grew its position in Stryker by 2.4% in the fourth quarter. Everhart Financial Group Inc. now owns 3,245 shares of the medical technology company’s stock worth $1,168,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds 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.
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