Stryker (NYSE:SYK) Given Buy Rating at BTIG Research

BTIG Research reissued their buy rating on shares of Stryker (NYSE:SYK) in a research report report published on Friday morning,Benzinga reports. The firm currently has a $410.00 target price on the medical technology company’s stock.

A number of other analysts also recently commented on the company. Rothschild & Co Redburn assumed coverage on Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective for the company. Barclays boosted their price target on Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Rothschild Redb upgraded Stryker to a “hold” rating in a report on Thursday, September 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $448.00 price objective on shares of Stryker in a research note on Friday. Finally, Redburn Partners set a $420.00 target price on shares of Stryker in a research report on Thursday, September 18th. Thirteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $434.37.

Stryker Trading Down 3.0%

SYK traded down $11.03 during midday trading on Friday, hitting $362.39. The company’s stock had a trading volume of 1,913,167 shares, compared to its average volume of 1,443,607. Stryker has a 52-week low of $329.16 and a 52-week high of $406.19. The firm has a 50-day moving average price of $371.96 and a two-hundred day moving average price of $381.15. 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 firm has a market cap of $138.59 billion, a P/E ratio of 48.00, a PEG ratio of 2.66 and a beta of 0.94.

Stryker (NYSE:SYK) last released its earnings results on Thursday, October 30th. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same period last year, the company earned $2.87 earnings per share. The company’s quarterly revenue 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, research 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 business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the transaction, the director directly owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. The trade was a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Viju Menon sold 500 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the transaction, the insider owned 12,511 shares of the company’s stock, valued at $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 520,500 shares of company stock worth $184,803,065 in the last quarter. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

Institutional investors have recently made changes to their positions in the business. Consolidated Portfolio Review Corp lifted its position in shares of Stryker by 4.2% during the second 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 last quarter. Princeton Global Asset Management LLC lifted its stake in Stryker by 16.9% in the second quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock valued at $71,000 after buying an additional 26 shares during the last quarter. Sunflower Bank N.A. boosted its position in 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 acquiring an additional 27 shares during the period. Pitti Group Wealth Management LLC grew its stake in shares of Stryker by 3.2% in the second quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company’s stock worth $341,000 after purchasing an additional 27 shares in the last quarter. Finally, Sachetta LLC grew its position in Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after buying an additional 27 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

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.