Stryker (NYSE:SYK) Price Target Raised to $456.00 at Wells Fargo & Company

by · The Markets Daily

Stryker (NYSE:SYK – Free Report) had its target price increased by Wells Fargo & Company from $452.00 to $456.00 in a report published on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical technology company’s stock.

A number of other equities research analysts have also recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $448.00 target price on shares of Stryker in a research report on Friday. Truist Financial reaffirmed a “hold” rating and set a $392.00 price objective (down previously from $407.00) on shares of Stryker in a research note on Monday, November 3rd. UBS Group set a $408.00 target price on shares of Stryker in a research note on Monday, October 13th. BTIG Research restated a “buy” rating and issued a $410.00 price target on shares of Stryker in a research report on Friday. Finally, Weiss Ratings downgraded Stryker from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, November 7th. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $434.37.

Get Our Latest Stock Analysis on Stryker

Stryker Price Performance

Shares of Stryker stock traded down $11.03 during mid-day trading on Friday, reaching $362.39. 1,913,167 shares of the stock traded hands, compared to its average volume of 1,443,607. The stock has a market capitalization of $138.59 billion, a PE ratio of 48.00, a PEG ratio of 2.66 and a beta of 0.94. The business has a 50-day moving average of $371.96 and a 200 day moving average of $381.15. Stryker has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK – Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The medical technology company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.13 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $6.04 billion. During the same period in the previous year, the business earned $2.87 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. On average, analysts predict that Stryker will post 13.47 EPS for the current year.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 276,173 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the transaction, the director owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. This represents a 9.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Viju Menon sold 500 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the sale, the insider directly owned 12,511 shares of the company’s stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 520,500 shares of company stock worth $184,803,065 in the last 90 days. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

Several large investors have recently made changes to their positions in the stock. Mid American Wealth Advisory Group Inc. purchased a new stake in Stryker during the 2nd quarter worth about $26,000. Clayton Financial Group LLC purchased a new stake in shares of Stryker during the third quarter worth approximately $26,000. United Financial Planning Group LLC acquired a new stake in Stryker in the third quarter valued at approximately $27,000. Elevation Point Wealth Partners LLC acquired a new stake in Stryker in the second quarter valued at approximately $28,000. Finally, Sachetta LLC lifted its stake in Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 27 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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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