Stryker (NYSE:SYK) Upgraded to “Buy” at StockNews.com

Stryker (NYSE:SYK) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Several other research analysts have also recently issued reports on the company. Stifel Nicolaus raised their target price on Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Barclays upped their target price on shares of Stryker from $372.00 to $376.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. TD Cowen lifted their price target on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Royal Bank of Canada boosted their price objective on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Finally, Piper Sandler raised their target price on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $370.32.

Stryker Stock Up 0.4 %

SYK opened at $339.37 on Thursday. The stock has a market capitalization of $129.28 billion, a price-to-earnings ratio of 38.74, a PEG ratio of 2.66 and a beta of 0.89. The firm has a 50 day moving average price of $337.90 and a 200-day moving average price of $336.26. Stryker has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.14 EPS. Equities research analysts forecast that Stryker will post 11.95 earnings per share for the current year.

Hedge Funds Weigh In On Stryker

Several institutional investors have recently added to or reduced their stakes in SYK. Burkett Financial Services LLC purchased a new position in shares of Stryker in the fourth quarter valued at $25,000. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after buying an additional 61 shares during the last quarter. Rogco LP purchased a new stake in shares of Stryker during the 4th quarter valued at about $30,000. Central Pacific Bank Trust Division bought a new position in shares of Stryker in the 1st quarter valued at about $39,000. Finally, DSM Capital Partners LLC purchased a new position in Stryker in the fourth quarter worth about $34,000. Hedge funds and other 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.