Canaccord Genuity Group Raises Stryker (NYSE:SYK) Price Target to $400.00

Stryker (NYSE:SYK) had its price target increased by investment analysts at Canaccord Genuity Group from $360.00 to $400.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the medical technology company’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 12.27% from the stock’s previous close.

A number of other research firms have also recently issued reports on SYK. UBS Group lifted their price target on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday. Stifel Nicolaus reduced their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Morgan Stanley upped their price target on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Truist Financial upped their price target on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Wolfe Research began coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $393.65.

Stryker Trading Down 2.0 %

SYK stock opened at $356.28 on Wednesday. Stryker has a 1-year low of $264.85 and a 1-year high of $374.63. The firm has a market cap of $135.72 billion, a P/E ratio of 40.67, a P/E/G ratio of 2.73 and a beta of 0.91. The business’s 50 day moving average is $359.90 and its 200-day moving average is $344.06. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.09. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.46 EPS. Equities analysts anticipate that Stryker will post 12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 200,068 shares of company stock valued at $65,151,372. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stryker

Several large investors have recently made changes to their positions in the stock. Tandem Investment Advisors Inc. boosted its holdings in shares of Stryker by 8.2% in the 3rd quarter. Tandem Investment Advisors Inc. now owns 266,041 shares of the medical technology company’s stock valued at $96,110,000 after buying an additional 20,199 shares during the last quarter. Portside Wealth Group LLC acquired a new stake in shares of Stryker in the 3rd quarter valued at approximately $215,000. Hara Capital LLC acquired a new stake in shares of Stryker in the 3rd quarter valued at approximately $42,000. Kornitzer Capital Management Inc. KS boosted its holdings in shares of Stryker by 1.9% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 8,084 shares of the medical technology company’s stock valued at $2,920,000 after buying an additional 152 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Stryker by 6.2% in the 3rd quarter. Principal Financial Group Inc. now owns 398,422 shares of the medical technology company’s stock valued at $143,934,000 after buying an additional 23,329 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

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.