Stryker (NYSE:SYK) Rating Increased to Buy at StockNews.com

Stryker (NYSE:SYK) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Other equities analysts also recently issued research reports about the company. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. 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. BTIG Research boosted their target price on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $404.35.

Stryker Stock Performance

Shares of Stryker stock opened at $375.01 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The business has a 50-day simple moving average of $372.42 and a 200 day simple moving average of $354.51. The firm has a market capitalization of $142.96 billion, a price-to-earnings ratio of 40.23, a PEG ratio of 2.89 and a beta of 0.94. Stryker has a one year low of $285.79 and a one year high of $398.20.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS 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 firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the previous year, the company posted $2.46 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, research analysts anticipate that Stryker will post 12.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction 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 transaction, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Parnassus Investments LLC bought a new stake in Stryker in the 3rd quarter valued at $762,798,000. International Assets Investment Management LLC increased its holdings in shares of Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after buying an additional 852,496 shares during the last quarter. RTW Investments LP bought a new stake in shares of Stryker in the 3rd quarter worth about $143,392,000. American Century Companies Inc. increased its holdings 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, State Street Corp increased its holdings in shares of Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after buying an additional 316,404 shares during the last quarter. Hedge funds and other 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.