Stryker (NYSE:SYK) Price Target Raised to $435.00

Stryker (NYSE:SYK) had its price objective lifted by investment analysts at Royal Bank of Canada from $425.00 to $435.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the medical technology company’s stock. Royal Bank of Canada’s target price points to a potential upside of 10.84% from the stock’s current price.

A number of other research firms have also recently issued reports on SYK. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Evercore ISI lifted their price target on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $442.00 target price on shares of Stryker in a research note on Wednesday. Finally, Truist Financial raised their target price on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $413.45.

Stryker Stock Performance

SYK traded down $2.69 during midday trading on Wednesday, reaching $392.46. The company had a trading volume of 1,399,570 shares, compared to its average volume of 1,474,424. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The business has a 50-day moving average price of $376.44 and a two-hundred day moving average price of $361.98. Stryker has a 12-month low of $314.05 and a 12-month high of $406.19. The stock has a market cap of $149.61 billion, a PE ratio of 41.82, a P/E/G ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 16.34% and a return on equity of 23.07%. During the same period in the previous year, the company earned $3.46 EPS. On average, sell-side analysts expect that Stryker will post 12.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Stryker

In other Stryker 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 transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, 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. 5.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stryker

Hedge funds have recently made changes to their positions in the stock. Dunhill Financial LLC lifted its holdings in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the last quarter. Centennial Bank AR raised its position in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new position in Stryker in the third quarter valued at about $36,000. Activest Wealth Management acquired a new position in shares of Stryker in the fourth quarter valued at approximately $36,000. Finally, Crews Bank & Trust bought a new position in shares of Stryker during the fourth quarter worth about $39,000. Institutional investors own 77.09% of the company’s stock.

About Stryker

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.