JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Stryker (NYSE:SYK) Stock

Stryker (NYSE:SYK) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from $375.00 to $420.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the medical technology company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 17.88% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday. BTIG Research lifted their price target on Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 14th. UBS Group increased their price objective on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday. Evercore ISI lifted their target price on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $386.00 price target on shares of Stryker in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Trading Down 2.0 %

Stryker stock opened at $356.28 on Wednesday. Stryker has a 52-week low of $264.85 and a 52-week high of $374.63. The company has a quick ratio of 0.95, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $359.90 and a two-hundred day moving average price of $344.06. The firm has a market capitalization of $135.77 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 2.79 and a beta of 0.91.

Stryker (NYSE:SYK) last issued 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 $2.78 by $0.09. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. Stryker’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.46 EPS. Sell-side analysts expect that Stryker will post 12.05 earnings per share for the current year.

Insiders Place Their Bets

In other 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 transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 200,068 shares of company stock valued at $65,151,372 over the last quarter. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

A number of hedge funds have recently bought and sold shares of SYK. Centennial Bank AR increased its stake in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Stryker in the 1st quarter valued at approximately $39,000. HBW Advisory Services LLC bought a new position in Stryker in the 3rd quarter worth approximately $42,000. Hara Capital LLC acquired a new position in shares of Stryker during the third quarter worth approximately $42,000. Finally, Grove Bank & Trust boosted its position in shares of Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 56 shares during the period. 77.09% of the stock is currently owned by institutional investors.

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.