Wells Fargo & Company Forecasts Strong Price Appreciation for Stryker (NYSE:SYK) Stock

Stryker (NYSE:SYK) had its price objective increased by Wells Fargo & Company from $427.00 to $435.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the medical technology company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 11.40% from the stock’s current price.

SYK has been the subject of a number of other research reports. UBS Group lifted their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Piper Sandler reiterated an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Citigroup lifted their price objective on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $425.00 price objective on shares of Stryker in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $416.40.

Stryker Trading Down 0.2 %

SYK opened at $390.48 on Wednesday. The stock has a market cap of $148.86 billion, a PE ratio of 41.85, a PEG ratio of 2.68 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average of $376.55 and a 200-day moving average of $362.18. Stryker has a 52 week low of $314.93 and a 52 week high of $406.19.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm posted $3.46 earnings per share. Equities research analysts predict that Stryker will post 12.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’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 owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Stryker

Several large investors have recently made changes to their positions in SYK. Advisory Alpha LLC lifted its position in shares of Stryker by 20.4% in the second quarter. Advisory Alpha LLC now owns 2,304 shares of the medical technology company’s stock valued at $784,000 after acquiring an additional 390 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Stryker by 2.5% in the second quarter. Cetera Investment Advisers now owns 89,948 shares of the medical technology company’s stock valued at $30,605,000 after acquiring an additional 2,220 shares in the last quarter. New Century Financial Group LLC lifted its position in shares of Stryker by 29.5% in the second quarter. New Century Financial Group LLC now owns 798 shares of the medical technology company’s stock valued at $272,000 after acquiring an additional 182 shares in the last quarter. Centennial Bank AR lifted its position in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares in the last quarter. Finally, Clear Rock Advisors LLC lifted its position in shares of Stryker by 1.4% in the second quarter. Clear Rock Advisors LLC now owns 10,426 shares of the medical technology company’s stock valued at $3,547,000 after acquiring an additional 140 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other 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.