Needham & Company LLC Reiterates Buy Rating for Stryker (NYSE:SYK)

Stryker (NYSE:SYK)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They currently have a $442.00 price objective on the medical technology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 21.37% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the company. Wolfe Research began coverage on Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective for the company. Robert W. Baird upped their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating and set a $425.00 price objective (up from $400.00) on shares of Stryker in a research note on Wednesday, December 11th. Wells Fargo & Company upped their price objective on Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, BTIG Research upped their price objective on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Price Performance

SYK opened at $364.19 on Tuesday. Stryker has a 12-month low of $298.52 and a 12-month high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The business’s fifty day simple moving average is $375.26 and its 200-day simple moving average is $357.47. The company has a market capitalization of $138.84 billion, a price-to-earnings ratio of 39.03, a PEG ratio of 2.82 and a beta of 0.95.

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

Insider Activity

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was 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 of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Stryker

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rempart Asset Management Inc. grew its holdings in Stryker by 5.0% during the fourth quarter. Rempart Asset Management Inc. now owns 49,496 shares of the medical technology company’s stock worth $17,821,000 after acquiring an additional 2,351 shares during the period. Bath Savings Trust Co grew its holdings in Stryker by 0.7% during the fourth quarter. Bath Savings Trust Co now owns 113,412 shares of the medical technology company’s stock worth $40,834,000 after acquiring an additional 823 shares during the period. Regent Peak Wealth Advisors LLC acquired a new stake in Stryker during the fourth quarter worth about $204,000. CWA Asset Management Group LLC grew its holdings in Stryker by 3.5% during the fourth quarter. CWA Asset Management Group LLC now owns 3,854 shares of the medical technology company’s stock worth $1,388,000 after acquiring an additional 131 shares during the period. Finally, Nordea Investment Management AB grew its holdings in Stryker by 15.8% in the fourth quarter. Nordea Investment Management AB now owns 971,735 shares of the medical technology company’s stock valued at $350,485,000 after purchasing an additional 132,513 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

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.