Evercore ISI Boosts Stryker (NYSE:SYK) Price Target to $384.00

Stryker (NYSE:SYK) had its target price lifted by equities researchers at Evercore ISI from $380.00 to $384.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical technology company’s stock. Evercore ISI’s target price suggests a potential upside of 7.78% from the company’s current price.

Several other analysts have also recently weighed in on SYK. Morgan Stanley lifted their price objective on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Truist Financial boosted their price target on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Piper Sandler restated an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research note on Tuesday, September 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $386.00 target price on shares of Stryker in a research report on Wednesday, July 31st. Finally, Barclays raised their price target on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Trading Down 2.0 %

Stryker stock opened at $356.28 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 1.91. The stock has a 50-day simple moving average of $359.90 and a 200 day simple moving average of $344.06. The stock has a market capitalization of $135.77 billion, a P/E ratio of 38.19, a PEG ratio of 2.79 and a beta of 0.91. Stryker has a 52 week low of $264.85 and a 52 week high of $374.63.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.09. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.46 earnings per share. Analysts expect that Stryker will post 12.05 earnings per share for the current year.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Stryker news, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’s 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 completion of the transaction, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 200,068 shares of company stock worth $65,151,372. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

Large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC raised its holdings in shares of Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after purchasing an additional 852,496 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after buying an additional 813,311 shares during the last quarter. 1832 Asset Management L.P. lifted its position in shares of Stryker by 146.9% during the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after buying an additional 522,817 shares in the last quarter. American Century Companies Inc. boosted its stake 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 worth $172,033,000 after buying an additional 375,166 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Stryker by 1.0% in the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after acquiring an additional 309,592 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

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.