Royal Bank of Canada Reaffirms Outperform Rating for Stryker (NYSE:SYK)

Stryker (NYSE:SYK)‘s stock had its “outperform” rating reiterated by research analysts at Royal Bank of Canada in a research note issued on Wednesday,Benzinga reports. They presently have a $425.00 price target on the medical technology company’s stock, up from their prior price target of $400.00. Royal Bank of Canada’s price target points to a potential upside of 12.04% from the stock’s current price.

Several other brokerages also recently weighed in on SYK. BTIG Research increased their target price on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their target price on shares of Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research note on Wednesday. Truist Financial increased their target price on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Needham & Company LLC increased their target price on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Barclays increased their target price on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Stryker has an average rating of “Moderate Buy” and an average price target of $400.75.

Stryker Price Performance

Shares of NYSE:SYK traded down $3.36 during midday trading on Wednesday, reaching $379.32. 358,600 shares of the company were exchanged, compared to its average volume of 1,258,032. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The business’s fifty day moving average is $372.00 and its two-hundred day moving average is $354.36. Stryker has a one year low of $285.79 and a one year high of $398.20. The stock has a market cap of $144.60 billion, a PE ratio of 40.85, a price-to-earnings-growth ratio of 2.90 and a beta of 0.94.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the business earned $2.46 earnings per share. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, analysts predict that Stryker will post 12.06 earnings per share for the current year.

Insider Activity

In other news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This trade represents a 17.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on 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 $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,781 shares of company stock worth $24,612,275. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Stryker

Institutional investors have recently bought and sold shares of the stock. Dunhill Financial LLC boosted its stake in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares in the last quarter. Centennial Bank AR raised its position in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in Stryker during the 3rd quarter worth approximately $36,000. Hara Capital LLC purchased a new position in Stryker during the 3rd quarter worth approximately $42,000. Finally, HBW Advisory Services LLC purchased a new position in Stryker during the 3rd quarter worth approximately $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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.