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

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

Several other research analysts also recently commented on the company. Robert W. Baird raised their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Evercore ISI lifted their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial upped their price objective on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Citigroup increased their price target on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, UBS Group lifted their price objective on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average target price of $405.80.

Stryker Price Performance

Shares of SYK opened at $366.04 on Thursday. 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 moving average of $375.40 and a 200-day moving average of $357.70. Stryker has a 1 year low of $306.10 and a 1 year high of $398.20. The company has a market capitalization of $139.54 billion, a price-to-earnings ratio of 39.23, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities research analysts anticipate that Stryker will post 12.06 earnings per share for the current year.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stryker

Several hedge funds have recently modified their holdings of the company. Dunhill Financial LLC raised its position in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the last quarter. Centennial Bank AR boosted its stake in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Stryker in the 3rd quarter worth $36,000. HBW Advisory Services LLC purchased a new position in shares of Stryker during the 3rd quarter worth $42,000. Finally, Hara Capital LLC acquired a new position in shares of Stryker during the 3rd quarter valued at about $42,000. 77.09% of the stock is owned by hedge funds and other 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.