Stryker (NYSE:SYK) PT Raised to $369.00

Stryker (NYSE:SYK) had its price target raised by research analysts at BTIG Research from $366.00 to $369.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the medical technology company’s stock. BTIG Research’s price target suggests a potential upside of 12.94% from the company’s previous close.

A number of other analysts have also recently issued reports on the stock. Evercore ISI increased their price objective on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Truist Financial increased their price objective on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. Wells Fargo & Company increased their price objective on shares of Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. TD Cowen increased their price objective on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Finally, Citigroup increased their price objective on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $365.94.

Stryker Stock Down 0.4 %

Shares of SYK stock opened at $326.73 on Wednesday. Stryker has a 12 month low of $249.98 and a 12 month high of $361.41. The stock has a market cap of $124.31 billion, a P/E ratio of 37.30, a P/E/G ratio of 2.63 and a beta of 0.91. The company has a current ratio of 1.71, a quick ratio of 0.97 and a debt-to-equity ratio of 0.56. The company has a 50 day simple moving average of $347.52 and a two-hundred day simple moving average of $316.85.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the prior year, the company earned $2.14 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. On average, research analysts expect that Stryker will post 11.93 earnings per share for the current year.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the transaction, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the sale, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Stryker

Several hedge funds and other institutional investors have recently made changes to their positions in SYK. Burkett Financial Services LLC purchased a new stake in shares of Stryker in the fourth quarter valued at $25,000. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after buying an additional 61 shares during the period. Rogco LP purchased a new position in Stryker in the 4th quarter worth about $30,000. DSM Capital Partners LLC purchased a new position in Stryker in the 4th quarter worth about $34,000. Finally, HBC Financial Services PLLC purchased a new position in Stryker in the 4th quarter worth about $37,000. 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.