JMP Securities Reiterates Market Perform Rating for Stryker (NYSE:SYK)

Stryker (NYSE:SYK)‘s stock had its “market perform” rating reaffirmed by JMP Securities in a research note issued on Tuesday,Benzinga reports.

Several other analysts have also recently commented on SYK. Wolfe Research started coverage on shares of Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday, January 1st. Needham & Company LLC reissued a “buy” rating and set a $442.00 price target on shares of Stryker in a research note on Tuesday. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $425.00 price objective on shares of Stryker in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Stock Performance

NYSE SYK opened at $364.19 on Tuesday. The firm has a market cap of $138.84 billion, a price-to-earnings ratio of 39.03, a PEG ratio of 2.82 and a beta of 0.95. The company has a 50 day moving average of $375.26 and a 200-day moving average of $357.47. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker has a 1-year low of $298.52 and a 1-year high of $398.20.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the firm earned $2.46 earnings per share. Stryker’s revenue was up 11.9% compared to the same quarter last year. On average, equities analysts forecast that Stryker will post 12.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Stryker

A number of hedge funds and other institutional investors have recently made changes to their positions in SYK. Dunhill Financial LLC raised its holdings in shares of Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the period. Centennial Bank AR increased its stake in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in Stryker in the 3rd quarter valued at $36,000. HBW Advisory Services LLC acquired a new stake in Stryker in the 3rd quarter valued at $42,000. Finally, Hara Capital LLC acquired a new stake in Stryker in the 3rd quarter valued at $42,000. 77.09% of the stock is currently 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.