StockNews.com Upgrades Stryker (NYSE:SYK) to "Buy"

StockNews.com upgraded shares of Stryker (NYSE:SYK - Free Report) from a hold rating to a buy rating in a research report released on Thursday.

Several other brokerages also recently weighed in on SYK. Piper Sandler restated an "overweight" rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Wolfe Research started coverage on Stryker in a research note on Tuesday, September 10th. They set an "outperform" rating and a $405.00 target price for the company. Truist Financial lifted their price target on Stryker from $370.00 to $380.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. BTIG Research lifted their price target on Stryker from $383.00 to $394.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, Barclays lifted their price target on Stryker from $402.00 to $418.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and a consensus target price of $393.65.

Stryker Stock Down 1.3 %

NYSE:SYK traded down $5.06 during mid-day trading on Thursday, hitting $383.28. The company had a trading volume of 1,763,435 shares, compared to its average volume of 1,259,397. The business has a fifty day simple moving average of $362.94 and a 200-day simple moving average of $346.72. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker has a 1 year low of $282.35 and a 1 year high of $392.70. The firm has a market capitalization of $146.11 billion, a price-to-earnings ratio of 41.62, a PEG ratio of 2.92 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company's revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $2.46 earnings per share. Equities analysts forecast that Stryker will post 12.06 earnings per share for the current fiscal year.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company's stock, valued at approximately $3,219,495. The trade was a 6.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares of the company's stock, valued at $3,685,213.16. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,381 shares of company stock valued at $24,825,275 in the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Stryker

A number of hedge funds have recently made changes to their positions in the stock. Centennial Bank AR lifted its stake in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock worth $32,000 after purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in Stryker in the third quarter worth $36,000. HBW Advisory Services LLC bought a new stake in Stryker in the third quarter worth $42,000. Hara Capital LLC bought a new position in shares of Stryker during the third quarter valued at about $42,000. Finally, Grove Bank & Trust raised its stake in shares of Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company's stock valued at $44,000 after acquiring an additional 56 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

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.