Stryker (NYSE:SYK) Stock Price Expected to Rise, BTIG Research Analyst Says

Stryker (NYSE:SYK) had its target price increased by equities research analysts at BTIG Research from $383.00 to $394.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the medical technology company’s stock. BTIG Research’s price target indicates a potential upside of 10.59% from the stock’s previous close.

Other analysts also recently issued reports about the stock. UBS Group lifted their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday. Barclays lifted their price target on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Truist Financial lifted their price target on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a report on Wednesday. Robert W. Baird lifted their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price objective on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Stryker Stock Down 2.0 %

Shares of SYK stock opened at $356.28 on Wednesday. The company has a market capitalization of $135.72 billion, a price-to-earnings ratio of 40.67, a PEG ratio of 2.73 and a beta of 0.91. Stryker has a one year low of $264.85 and a one year high of $374.63. The company’s fifty day moving average price is $359.90 and its 200-day moving average price is $344.06. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 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 the consensus estimate of $5.37 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $2.46 EPS. Sell-side analysts expect that Stryker will post 12 EPS for the current fiscal year.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, 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 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 in the last three months. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Hedge funds have recently added to or reduced their stakes in the company. 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 period. Central Pacific Bank Trust Division acquired a new stake in Stryker during the first quarter worth approximately $39,000. HBW Advisory Services LLC acquired a new stake in Stryker during the third quarter worth approximately $42,000. Hara Capital LLC acquired a new stake in Stryker during the third quarter worth approximately $42,000. Finally, Grove Bank & Trust raised its holdings in Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

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.