Stryker’s (SYK) “Market Perform” Rating Reiterated at JMP Securities

by · The Markets Daily

Stryker (NYSE:SYK – Get Free Report)‘s stock had its “market perform” rating reiterated by JMP Securities in a report released on Tuesday,Benzinga reports.

A number of other analysts have also issued reports on the company. Piper Sandler reiterated an “overweight” rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Wolfe Research initiated coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. Canaccord Genuity Group lifted their price objective on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barclays boosted their price objective on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $425.00 price target on shares of Stryker in a report on Tuesday. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Check Out Our Latest Stock Analysis on SYK

Stryker Trading Down 1.6 %

Stryker stock traded down $5.74 during mid-day trading on Tuesday, hitting $355.62. The company’s stock had a trading volume of 547,253 shares, compared to its average volume of 848,948. Stryker has a one year low of $294.34 and a one year high of $398.20. The stock has a market cap of $135.57 billion, a PE ratio of 38.12, a P/E/G ratio of 2.82 and a beta of 0.95. The company has a 50 day moving average of $375.33 and a 200-day moving average of $357.33. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the business posted $2.46 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, research analysts anticipate that Stryker will post 12.06 EPS for the current year.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were 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. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Several institutional investors have recently modified their holdings of SYK. Private Advisor Group LLC increased its holdings in shares of Stryker by 0.9% in the 2nd quarter. Private Advisor Group LLC now owns 15,441 shares of the medical technology company’s stock valued at $5,254,000 after acquiring an additional 131 shares during the last quarter. Norden Group LLC increased its holdings in shares of Stryker by 6.1% during the 2nd quarter. Norden Group LLC now owns 831 shares of the medical technology company’s stock valued at $283,000 after acquiring an additional 48 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Stryker by 15.2% in the second quarter. Acadian Asset Management LLC now owns 64,501 shares of the medical technology company’s stock worth $21,939,000 after buying an additional 8,495 shares during the last quarter. Prudential PLC lifted its position in Stryker by 17.0% during the 2nd quarter. Prudential PLC now owns 5,660 shares of the medical technology company’s stock worth $1,926,000 after acquiring an additional 822 shares during the last quarter. Finally, Wedbush Securities Inc. increased its position in Stryker by 2.2% in the 2nd quarter. Wedbush Securities Inc. now owns 8,299 shares of the medical technology company’s stock worth $2,824,000 after buying an additional 177 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Company Profile

(Get Free Report)

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.

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