Royal Bank of Canada Reaffirms “Outperform” Rating for Stryker (NYSE:SYK)

Stryker (NYSE:SYK)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They currently have a $425.00 price objective on the medical technology company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 16.70% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $442.00 price target on shares of Stryker in a report on Tuesday. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $370.00 to $445.00 in a report on Monday, December 2nd. JPMorgan Chase & Co. increased their target price on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Citigroup increased their target price on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Evercore ISI increased their target price on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Stock Performance

SYK opened at $364.19 on Tuesday. The stock has a market cap of $138.84 billion, a P/E ratio of 39.03, a P/E/G ratio of 2.82 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The stock’s 50 day simple moving average is $375.26 and its 200 day simple moving average is $357.47. 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 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.46 EPS. As a group, equities analysts anticipate that Stryker will post 12.06 EPS for the current fiscal year.

Insider Activity at Stryker

In other 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 completion of 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 Securities & Exchange Commission, which is available at this hyperlink. 5.50% of the stock is owned by insiders.

Institutional Trading of Stryker

Large investors have recently modified their holdings of the business. Dunhill Financial LLC grew its stake in Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares in the last quarter. Centennial Bank AR grew its stake in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Stryker in the third quarter worth about $36,000. HBW Advisory Services LLC acquired a new position in Stryker in the third quarter worth about $42,000. Finally, Hara Capital LLC acquired a new position in Stryker in the third quarter worth about $42,000. 77.09% of the stock is currently 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.