Stryker (NYSE:SYK) Given New $420.00 Price Target at JPMorgan Chase & Co.

Stryker (NYSE:SYK) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $375.00 to $420.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical technology company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 17.88% from the stock’s current price.

A number of other research firms also recently weighed in on SYK. Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 price objective on shares of Stryker in a report on Wednesday, July 31st. 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. Needham & Company LLC boosted their target price on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays increased their target price on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Truist Financial boosted their price target on shares of Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $393.65.

Stryker Price Performance

Shares of NYSE:SYK opened at $356.28 on Wednesday. The business’s 50 day moving average is $359.90 and its 200-day moving average is $344.06. The company has a current ratio of 1.91, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $135.77 billion, a PE ratio of 38.19, a PEG ratio of 2.79 and a beta of 0.91. Stryker has a 1-year low of $264.85 and a 1-year high of $374.63.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.09. The firm 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 business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.46 EPS. Sell-side analysts predict that Stryker will post 12.05 earnings per share for the current year.

Insider Buying and Selling

In other Stryker news, insider Viju Menon sold 600 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Stryker news, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 200,068 shares of company stock valued at $65,151,372 over the last three months. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYK. Norden Group LLC acquired a new position in shares of Stryker during the first quarter worth about $4,027,000. Kovack Advisors Inc. bought a new stake in Stryker in the 1st quarter valued at approximately $224,000. New Century Financial Group LLC acquired a new position in Stryker during the 1st quarter worth approximately $220,000. Maryland State Retirement & Pension System grew its stake in shares of Stryker by 0.9% during the 1st quarter. Maryland State Retirement & Pension System now owns 27,892 shares of the medical technology company’s stock worth $9,347,000 after acquiring an additional 236 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in shares of Stryker by 6.8% in the first quarter. J.W. Cole Advisors Inc. now owns 2,606 shares of the medical technology company’s stock valued at $933,000 after purchasing an additional 166 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

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.