Citigroup Issues Pessimistic Forecast for Stryker (NYSE:SYK) Stock Price

Stryker (NYSE:SYK) had its price target cut by equities research analysts at Citigroup from $420.00 to $385.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical technology company’s stock. Citigroup’s price target points to a potential upside of 13.29% from the stock’s previous close.

SYK has been the topic of a number of other research reports. Evercore set a $390.00 price target on Stryker in a research report on Monday, January 5th. Jefferies Financial Group reissued a “buy” rating and set a $465.00 price target on shares of Stryker in a research report on Wednesday, March 4th. Truist Financial dropped their price target on Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. Finally, Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target for the company in a research note on Friday, December 19th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $425.56.

Stryker Stock Performance

Shares of NYSE SYK opened at $339.85 on Tuesday. Stryker has a one year low of $319.32 and a one year high of $404.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. The stock’s fifty day moving average price is $355.78 and its two-hundred day moving average price is $360.97. The firm has a market cap of $130.16 billion, a price-to-earnings ratio of 40.46, a P/E/G ratio of 1.94 and a beta of 0.92.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the previous year, the company earned $4.01 EPS. The business’s revenue was up 11.4% on a year-over-year basis. On average, equities analysts forecast that Stryker will post 13.47 EPS for the current year.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the transaction, the director owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Stryker during the fourth quarter worth $1,822,272,000. Alliancebernstein L.P. increased its holdings in shares of Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after buying an additional 4,223,366 shares in the last quarter. Auto Owners Insurance Co increased its holdings in shares of Stryker by 35,047.0% during the fourth quarter. Auto Owners Insurance Co now owns 2,914,741 shares of the medical technology company’s stock worth $1,024,444,000 after buying an additional 2,906,448 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Stryker by 22.6% during the fourth quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company’s stock worth $2,282,192,000 after buying an additional 1,198,665 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of Stryker by 104.4% during the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after buying an additional 1,146,998 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.