Stryker (NYSE:SYK) Upgraded by StockNews.com to Buy Rating

Stryker (NYSE:SYK - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Thursday.

A number of other research analysts have also issued reports on SYK. Wells Fargo & Company lifted their target price on Stryker from $405.00 to $427.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. UBS Group lifted their price objective on shares of Stryker from $366.00 to $370.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. BTIG Research increased their target price on shares of Stryker from $383.00 to $394.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of Stryker from $375.00 to $420.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $425.00 price objective on shares of Stryker in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $405.80.

Stryker Price Performance

SYK stock traded up $9.01 during trading on Thursday, hitting $364.19. The company had a trading volume of 1,534,680 shares, compared to its average volume of 1,279,956. The business has a 50 day moving average of $375.42 and a 200 day moving average of $357.51. The firm has a market capitalization of $138.84 billion, a price-to-earnings ratio of 39.03, a P/E/G ratio of 2.82 and a beta of 0.95. 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 fifty-two week low of $298.52 and a fifty-two week high of $398.20.

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

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company'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 owns 100,027 shares of the company's stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.50% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Avestar Capital LLC increased its stake in shares of Stryker by 1.1% in the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company's stock valued at $1,065,000 after acquiring an additional 31 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its stake in Stryker by 1.5% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company's stock valued at $793,000 after purchasing an additional 32 shares in the last quarter. Grimes & Company Inc. raised its holdings in Stryker by 0.4% in the third quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company's stock worth $2,977,000 after purchasing an additional 33 shares during the period. Moran Wealth Management LLC boosted its position in shares of Stryker by 0.4% during the third quarter. Moran Wealth Management LLC now owns 9,047 shares of the medical technology company's stock worth $3,268,000 after purchasing an additional 34 shares in the last quarter. Finally, Dunhill Financial LLC grew its holdings in shares of Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock valued at $27,000 after buying an additional 37 shares during the period. 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.