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

Stryker (NYSE:SYK) had its price target raised by Wells Fargo & Company from $452.00 to $456.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical technology company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 24.48% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Barclays upped their price target on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Redburn Partners set a $420.00 target price on shares of Stryker in a report on Thursday, September 18th. Truist Financial reaffirmed a “hold” rating and issued a $392.00 price target (down previously from $407.00) on shares of Stryker in a report on Monday, November 3rd. Sanford C. Bernstein reiterated an “outperform” rating on shares of Stryker in a research report on Monday, November 3rd. Finally, Weiss Ratings downgraded Stryker from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, November 7th. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $433.95.

Stryker Price Performance

Shares of SYK traded down $7.09 during trading hours on Friday, reaching $366.33. 827,201 shares of the stock traded hands, compared to its average volume of 1,438,445. The company has a market cap of $140.09 billion, a P/E ratio of 48.53, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average price is $372.55 and its two-hundred day moving average price is $381.18. Stryker has a 52-week low of $329.16 and a 52-week high of $406.19.

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

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction that occurred 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 sale, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Viju Menon sold 500 shares of the firm’s stock in a transaction that occurred on 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. This represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 520,500 shares of company stock worth $184,803,065. Insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SYK. Consolidated Portfolio Review Corp increased its holdings in Stryker by 4.2% during the 2nd quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company’s stock worth $256,000 after purchasing an additional 26 shares during the period. Princeton Global Asset Management LLC grew its position in shares of Stryker by 16.9% during the 2nd quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock worth $71,000 after buying an additional 26 shares in the last quarter. Sunflower Bank N.A. grew its position in shares of Stryker by 4.0% during the 2nd quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company’s stock worth $275,000 after buying an additional 27 shares in the last quarter. Pitti Group Wealth Management LLC increased its stake in shares of Stryker by 3.2% during the second quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company’s stock valued at $341,000 after buying an additional 27 shares during the period. Finally, Sachetta LLC raised its holdings in shares of Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

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.