Needham & Company LLC Reiterates Buy Rating for Stryker (NYSE:SYK)

Stryker (NYSE:SYK)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They presently have a $442.00 price target on the medical technology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 21.37% from the company’s current price.

Several other equities analysts also recently weighed in on SYK. BTIG Research raised their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Truist Financial raised their target price on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday, January 1st. Finally, Canaccord Genuity Group lifted their price objective on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five equities 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, the company has an average rating of “Moderate Buy” and an average target price of $405.80.

Stryker Stock Up 2.5 %

Shares of SYK opened at $364.19 on Tuesday. 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 12 month low of $298.52 and a 12 month high of $398.20. The stock’s 50 day moving average is $375.26 and its two-hundred day moving average is $357.47. The firm has a market cap of $138.84 billion, a P/E ratio of 39.03, a PEG ratio of 2.82 and a beta of 0.95.

Stryker (NYSE:SYK) last released 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 business had revenue of $5.49 billion for 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 business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.46 earnings per share. Analysts predict that Stryker will post 12.06 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker 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 completion of the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Stryker

A number of institutional investors have recently modified their holdings of SYK. Private Advisor Group LLC grew its stake in shares of Stryker by 0.9% in the second quarter. Private Advisor Group LLC now owns 15,441 shares of the medical technology company’s stock valued at $5,254,000 after buying an additional 131 shares in the last quarter. Norden Group LLC grew its stake in Stryker by 6.1% during the 2nd quarter. Norden Group LLC now owns 831 shares of the medical technology company’s stock worth $283,000 after purchasing an additional 48 shares in the last quarter. Acadian Asset Management LLC grew its stake in Stryker by 15.2% during the 2nd quarter. Acadian Asset Management LLC now owns 64,501 shares of the medical technology company’s stock worth $21,939,000 after purchasing an additional 8,495 shares in the last quarter. Prudential PLC grew its stake in Stryker by 17.0% during the 2nd quarter. Prudential PLC now owns 5,660 shares of the medical technology company’s stock worth $1,926,000 after purchasing an additional 822 shares in the last quarter. Finally, Wedbush Securities Inc. grew its stake in Stryker by 2.2% during the 2nd quarter. Wedbush Securities Inc. now owns 8,299 shares of the medical technology company’s stock worth $2,824,000 after purchasing an additional 177 shares in the last quarter. 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.