Royal Bank of Canada Reiterates “Outperform” Rating for Stryker (NYSE:SYK)

Stryker (NYSE:SYK)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $425.00 price target on the medical technology company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 19.51% from the stock’s current price.

SYK has been the subject of a number of other research reports. Wells Fargo & Company raised their price objective on Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Piper Sandler restated an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Truist Financial lifted their price target on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Finally, BTIG Research raised their price target on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Price Performance

Shares of SYK traded down $5.74 during mid-day trading on Tuesday, reaching $355.62. 547,253 shares of the company’s stock were exchanged, compared to its average volume of 848,948. Stryker has a 52-week low of $294.34 and a 52-week high of $398.20. 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 company has a 50-day simple moving average of $375.33 and a two-hundred day simple moving average of $357.33. The company has a market cap of $135.57 billion, a price-to-earnings ratio of 38.12, a PEG ratio of 2.82 and a beta of 0.95.

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

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The shares were 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 directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stryker

Institutional investors have recently added to or reduced their stakes in the company. CWA Asset Management Group LLC lifted its holdings in shares of Stryker by 3.5% in the fourth quarter. CWA Asset Management Group LLC now owns 3,854 shares of the medical technology company’s stock worth $1,388,000 after buying an additional 131 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Stryker by 15.8% during the 4th quarter. Nordea Investment Management AB now owns 971,735 shares of the medical technology company’s stock valued at $350,485,000 after acquiring an additional 132,513 shares during the period. Everence Capital Management Inc. increased its stake in shares of Stryker by 21.4% in the fourth quarter. Everence Capital Management Inc. now owns 9,570 shares of the medical technology company’s stock worth $3,446,000 after buying an additional 1,690 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Stryker by 65.1% during the fourth quarter. GAMMA Investing LLC now owns 4,789 shares of the medical technology company’s stock worth $1,724,000 after purchasing an additional 1,888 shares during the period. Finally, Versant Capital Management Inc increased its position in Stryker by 16.5% during the 4th quarter. Versant Capital Management Inc now owns 1,121 shares of the medical technology company’s stock valued at $404,000 after purchasing an additional 159 shares during the period. 77.09% of the stock is 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.