Wells Fargo & Company Forecasts Strong Price Appreciation for Stryker (NYSE:SYK) Stock

Stryker (NYSE:SYK) had its price objective raised by research analysts at Wells Fargo & Company from $381.00 to $405.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the medical technology company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 13.67% from the company’s previous close.

SYK has been the topic of several other research reports. Wolfe Research began coverage on shares of Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Morgan Stanley upped their price objective on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. BTIG Research boosted 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. Finally, Needham & Company LLC upped their price target on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Price Performance

SYK 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 firm has a market cap of $135.77 billion, a P/E ratio of 38.19, a P/E/G ratio of 2.79 and a beta of 0.91. The firm’s fifty day moving average is $359.90 and its 200 day moving average is $344.06. Stryker has a 52 week low of $264.85 and a 52 week high of $374.63.

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

Insiders Place Their Bets

In other 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 value of $213,000.00. Following the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $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 available through the SEC website. In related news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now directly 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction dated 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 transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. 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. 5.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Stryker

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norden Group LLC bought a new stake in shares of Stryker in the 1st quarter worth $4,027,000. Kovack Advisors Inc. bought a new position in shares of Stryker during the first quarter valued at $224,000. New Century Financial Group LLC purchased a new stake in shares of Stryker during the first quarter valued at $220,000. Maryland State Retirement & Pension System increased its holdings in Stryker by 0.9% in 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 buying an additional 236 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its position in Stryker by 6.8% in the 1st quarter. J.W. Cole Advisors Inc. now owns 2,606 shares of the medical technology company’s stock worth $933,000 after buying an additional 166 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

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.