Stryker (NYSE:SYK) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Stryker (NYSE:SYK) had its target price raised by stock analysts at Royal Bank of Canada from $425.00 to $435.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the medical technology company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 11.40% from the stock’s current price.

Several other research firms have also recently weighed in on SYK. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. Stifel Nicolaus increased their price objective on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday. Truist Financial increased their target price on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, Robert W. Baird increased their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $416.40.

Stryker Stock Down 0.2 %

SYK opened at $390.48 on Wednesday. Stryker has a 1-year low of $314.93 and a 1-year high of $406.19. The stock’s fifty day simple moving average is $376.55 and its 200 day simple moving average is $362.18. 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 stock has a market cap of $148.86 billion, a PE ratio of 41.85, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.07% and a net margin of 16.34%. During the same quarter in the previous year, the business posted $3.46 EPS. As a group, research analysts expect that Stryker will post 12.06 earnings per share for the current year.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker 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 approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

A number of hedge funds have recently made changes to their positions in SYK. Dunhill Financial LLC raised its position 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 last quarter. Centennial Bank AR raised its position in shares of 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 acquiring an additional 48 shares during the last quarter. Darwin Wealth Management LLC bought a new position in shares of Stryker during the third quarter worth about $36,000. Activest Wealth Management bought a new position in shares of Stryker during the fourth quarter worth about $36,000. Finally, Crews Bank & Trust bought a new position in shares of Stryker during the fourth quarter worth about $39,000. 77.09% of the stock is currently owned by institutional investors.

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.