Stryker (NYSE:SYK - Get Free Report) had its price objective hoisted by investment analysts at Truist Financial from $380.00 to $409.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "hold" rating on the medical technology company's stock. Truist Financial's price target points to a potential upside of 13.87% from the stock's current price.
Several other research analysts also recently issued reports on the stock. Wolfe Research assumed 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. Royal Bank of Canada reaffirmed an "outperform" rating and set a $425.00 price target (up previously from $400.00) on shares of Stryker in a research note on Wednesday, December 11th. Morgan Stanley raised shares of Stryker from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Barclays lifted their price objective on Stryker from $402.00 to $418.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC raised their target price on Stryker from $409.00 to $442.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $405.80.
Check Out Our Latest Analysis on SYK
Stryker Stock Performance
SYK traded down $11.64 during trading on Wednesday, reaching $359.17. 1,617,804 shares of the company's stock were exchanged, compared to its average volume of 1,260,189. The company has a market capitalization of $136.92 billion, a P/E ratio of 38.50, a PEG ratio of 2.82 and a beta of 0.94. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average price of $374.41 and a 200 day moving average price of $355.59. Stryker has a fifty-two week low of $288.15 and a fifty-two week high of $398.20.
Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. The business 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 quarter in the previous year, the firm earned $2.46 EPS. As a group, analysts predict that Stryker will post 12.06 earnings per share for the current fiscal year.
Insider Buying and Selling at Stryker
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 value 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 $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.90% of the company's stock.
Hedge Funds Weigh In On Stryker
Hedge funds have recently bought and sold shares of the business. Dunhill Financial LLC lifted its position 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 purchasing an additional 37 shares during the period. Centennial Bank AR boosted its position 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 worth $32,000 after acquiring an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Stryker in the third quarter valued at approximately $36,000. Hara Capital LLC acquired a new position in shares of Stryker during the 3rd quarter worth $42,000. Finally, HBW Advisory Services LLC bought a new position in shares of Stryker in the third quarter worth about $42,000. 77.09% of the stock is owned by institutional investors.
Stryker Company Profile
(
Get Free Report)
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.
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