Canaccord Genuity Group Increases Stryker (NYSE:SYK) Price Target to $435.00

Stryker (NYSE:SYK - Get Free Report) had its price objective increased by research analysts at Canaccord Genuity Group from $420.00 to $435.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the medical technology company's stock. Canaccord Genuity Group's price target suggests a potential upside of 11.26% from the stock's previous close.

Several other research analysts also recently commented on the stock. Citigroup raised their price target on shares of Stryker from $411.00 to $450.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. 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. Needham & Company LLC reissued a "buy" rating and issued a $442.00 price target on shares of Stryker in a report on Tuesday, January 7th. Evercore ISI raised their price target on shares of Stryker from $380.00 to $384.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Finally, UBS Group raised their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $413.45.

Stryker Stock Performance

SYK traded down $4.17 on Wednesday, hitting $390.98. The company's stock had a trading volume of 3,322,012 shares, compared to its average volume of 1,598,759. The company's 50 day simple moving average is $376.44 and its 200-day simple moving average is $361.98. The firm has a market cap of $149.05 billion, a P/E ratio of 41.91, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95. Stryker has a 12 month low of $314.05 and a 12 month high of $406.19. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS 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 prior year, the firm posted $3.46 earnings per share. Analysts forecast that Stryker will post 12.06 EPS for the current year.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On Stryker

Large investors have recently modified their holdings of the stock. Dunhill Financial LLC boosted its stake in shares of 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 in the last quarter. Centennial Bank AR boosted its stake in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock valued at $32,000 after purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Stryker during the 3rd quarter valued at about $36,000. Activest Wealth Management bought a new stake in shares of Stryker during the 4th quarter valued at about $36,000. Finally, Crews Bank & Trust bought a new stake in shares of Stryker during the 4th quarter valued at 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.