Stryker (NYSE:SYK) Price Target Raised to $400.00

by · The Cerbat Gem

Stryker (NYSE:SYK – Get Free Report) had its target price lifted by investment analysts at Truist Financial from $390.00 to $400.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the medical technology company’s stock. Truist Financial’s target price would indicate a potential upside of 4.97% from the company’s previous close.

Other analysts have also issued research reports about the company. Stifel Nicolaus increased their target price on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research note on Monday. Argus set a $450.00 price objective on Stryker in a research report on Monday, February 3rd. Roth Mkm boosted their target price on shares of Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Barclays upped their target price on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $425.84.

Get Our Latest Stock Analysis on SYK

Stryker Price Performance

NYSE:SYK traded up $2.82 during trading hours on Monday, reaching $381.04. The stock had a trading volume of 555,936 shares, compared to its average volume of 1,352,809. The company has a 50 day moving average price of $366.38 and a two-hundred day moving average price of $373.92. Stryker has a 52 week low of $314.93 and a 52 week high of $406.19. The stock has a market capitalization of $145.44 billion, a PE ratio of 49.07, a PEG ratio of 2.93 and a beta of 0.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.

Stryker (NYSE:SYK – Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same period last year, the company earned $2.50 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Stryker will post 13.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

Several hedge funds and other institutional investors have recently modified their holdings of the business. Kohmann Bosshard Financial Services LLC purchased a new stake in Stryker in the 4th quarter valued at $25,000. Capital A Wealth Management LLC acquired a new stake in Stryker during the fourth quarter worth about $26,000. Rakuten Securities Inc. raised its stake in Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after purchasing an additional 68 shares during the period. Centricity Wealth Management LLC purchased a new position in Stryker in the fourth quarter worth approximately $30,000. Finally, Goodman Advisory Group LLC acquired a new position in Stryker in the first quarter valued at about $32,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

About Stryker

(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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