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

Stryker (NYSE:SYK)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $442.00 price target on the medical technology company’s stock. Needham & Company LLC’s target price indicates a potential upside of 13.19% from the stock’s previous close.

A number of other equities research analysts have also commented on SYK. Royal Bank of Canada reissued an “outperform” rating and issued a $425.00 price target on shares of Stryker in a research report on Tuesday, January 7th. Barclays increased their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Wells Fargo & Company increased their price target on Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Piper Sandler reissued an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price target on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Five equities 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $416.40.

Stryker Price Performance

Shares of SYK opened at $390.48 on Wednesday. Stryker has a 12-month low of $314.93 and a 12-month high of $406.19. The business’s fifty day moving average is $376.55 and its 200 day moving average is $362.18. 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 stock has a market cap of $148.86 billion, a P/E ratio of 41.85, a P/E/G ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping 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 company posted $3.46 EPS. Sell-side analysts anticipate that Stryker will post 12.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Stryker 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 value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Stryker

Hedge funds and other institutional investors have recently modified their holdings of the stock. Zhang Financial LLC increased its position in shares of Stryker by 55.0% during the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock valued at $41,366,000 after buying an additional 40,784 shares during the period. Dale Q Rice Investment Management Ltd bought a new stake in shares of Stryker during the fourth quarter valued at about $587,000. Berkshire Bank increased its position in shares of Stryker by 13.8% during the fourth quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock valued at $3,056,000 after buying an additional 1,030 shares during the period. PFW Advisors LLC bought a new stake in shares of Stryker during the fourth quarter valued at about $1,350,000. Finally, Traynor Capital Management Inc. bought a new stake in shares of Stryker during the fourth quarter valued at about $324,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Company Profile

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.