Stryker (NYSE:SYK) Price Target Increased to $380.00 by Analysts at Evercore ISI

Stryker (NYSE:SYK) had its price objective upped by stock analysts at Evercore ISI from $365.00 to $380.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical technology company’s stock. Evercore ISI’s price objective indicates a potential upside of 6.23% from the stock’s current price.

A number of other research firms also recently weighed in on SYK. Piper Sandler restated an “overweight” rating and issued a $380.00 price target on shares of Stryker in a research note on Tuesday, September 10th. Morgan Stanley raised their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Needham & Company LLC raised their price target on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $386.00 target price on shares of Stryker in a research note on Wednesday, July 31st. Finally, UBS Group lifted their target price on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $379.37.

Stryker Stock Down 1.0 %

Shares of NYSE:SYK traded down $3.55 during mid-day trading on Tuesday, reaching $357.71. 294,165 shares of the stock were exchanged, compared to its average volume of 1,275,802. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The company has a market cap of $136.27 billion, a P/E ratio of 40.82, a P/E/G ratio of 2.78 and a beta of 0.91. Stryker has a one year low of $249.98 and a one year high of $374.63. The stock’s 50 day simple moving average is $348.29 and its 200-day simple moving average is $343.00.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $2.54 earnings per share. As a group, equities research analysts predict that Stryker will post 12 EPS for the current year.

Insider Buying and Selling at Stryker

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock valued at $71,811,372 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

A number of hedge funds and other institutional investors have recently bought and sold shares of SYK. Global Assets Advisory LLC bought a new stake in Stryker during the 1st quarter worth $341,049,000. JPMorgan Chase & Co. grew its position in Stryker by 10.4% during 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 during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Stryker by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after buying an additional 642,178 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of Stryker by 146.9% in the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after buying an additional 522,817 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Stryker by 287.6% in the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after buying an additional 375,166 shares during 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.