Stryker (NYSE:SYK) Sets New 52-Week High - Still a Buy?

Stryker Co. (NYSE:SYK - Get Free Report)'s stock price reached a new 52-week high on Monday . The company traded as high as $396.70 and last traded at $393.82, with a volume of 31361 shares. The stock had previously closed at $390.08.

Analyst Ratings Changes

A number of research firms have recently issued reports on SYK. Truist Financial upped their target price on shares of Stryker from $370.00 to $380.00 and gave the stock a "hold" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of Stryker from $375.00 to $420.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Wolfe Research started coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an "outperform" rating and a $405.00 price target on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Finally, Royal Bank of Canada raised their target price on shares of Stryker from $386.00 to $400.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and a consensus target price of $393.65.

Stryker Stock Performance

The stock has a 50-day simple moving average of $364.07 and a 200-day simple moving average of $347.54. The company has a market capitalization of $148.45 billion, a price-to-earnings ratio of 41.81, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. 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 (NYSE:SYK - Get Free Report) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. Stryker's quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.46 EPS. On average, analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the firm's stock in a transaction on Thursday, November 7th. The stock was 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 approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,381 shares of company stock valued at $24,825,275. Corporate insiders own 5.50% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Dunhill Financial LLC grew its holdings in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock worth $27,000 after acquiring an additional 37 shares during the period. Centennial Bank AR boosted its position in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock worth $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new stake in Stryker during the 3rd quarter worth about $36,000. HBW Advisory Services LLC purchased a new stake in shares of Stryker during the 3rd quarter worth about $42,000. Finally, Hara Capital LLC purchased a new stake in shares of Stryker during the 3rd quarter worth about $42,000. 77.09% of the stock is owned by institutional investors and hedge funds.

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.