Stryker (NYSE:SYK) PT Raised to $383.00 at BTIG Research

Stryker (NYSE:SYK) had its price target raised by investment analysts at BTIG Research from $374.00 to $383.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the medical technology company’s stock. BTIG Research’s target price suggests a potential upside of 6.69% from the stock’s current price.

Several other brokerages have also issued reports on SYK. Wolfe Research started coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price on the stock. Needham & Company LLC upped their target price on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 target price on shares of Stryker in a research report on Wednesday, July 31st. Truist Financial upped their target price on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research report on Monday. Finally, StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $381.16.

Stryker Trading Down 0.2 %

Shares of NYSE SYK opened at $358.98 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The stock has a market capitalization of $136.75 billion, a P/E ratio of 40.98, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91. Stryker has a 1-year low of $255.22 and a 1-year high of $374.63. The business has a fifty day moving average price of $353.45 and a 200 day moving average price of $342.96.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.54 EPS. Equities research analysts expect that Stryker will post 12 EPS for the current fiscal year.

Insider Activity

In other news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock worth $71,811,372 over the last quarter. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Stryker

A number of institutional investors have recently added to or reduced their stakes in SYK. Centennial Bank AR lifted its position in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in Stryker in the first quarter valued at $39,000. HBW Advisory Services LLC purchased a new stake in Stryker in the third quarter valued at $42,000. Grove Bank & Trust raised its position in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares during the period. Finally, Sachetta LLC raised its position in Stryker by 16.3% in the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

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.