Stryker (NYSE:SYK) Reaches New 12-Month High – Here’s Why

Stryker Co. (NYSE:SYK)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $376.04 and last traded at $374.28, with a volume of 37969 shares changing hands. The stock had previously closed at $369.86.

Analyst Ratings Changes

Several research firms have issued reports on SYK. Needham & Company LLC boosted their target price on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Canaccord Genuity Group raised their target price on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Truist Financial upped their price target on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, Barclays boosted their price objective on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Price Performance

The company has a 50 day moving average of $360.66 and a 200 day moving average of $344.95. 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 stock has a market capitalization of $140.68 billion, a price-to-earnings ratio of 39.64, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the firm posted $2.46 EPS. The company’s revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.

Insider Buying and Selling at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,068 shares of company stock worth $3,693,972 in the last quarter. 5.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Stryker

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Seelaus Asset Management LLC raised its stake in shares of Stryker by 2.2% during the third quarter. Seelaus Asset Management LLC now owns 2,779 shares of the medical technology company’s stock valued at $1,004,000 after purchasing an additional 60 shares during the period. Coastline Trust Co acquired a new stake in Stryker during the 3rd quarter valued at $194,000. Simplify Asset Management Inc. grew its holdings in Stryker by 64.1% during the 3rd quarter. Simplify Asset Management Inc. now owns 1,812 shares of the medical technology company’s stock valued at $655,000 after purchasing an additional 708 shares in the last quarter. Bank of Marin lifted its holdings in Stryker by 3.4% in the 3rd quarter. Bank of Marin now owns 2,301 shares of the medical technology company’s stock worth $831,000 after buying an additional 75 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in Stryker by 6.5% in the 3rd quarter. Empowered Funds LLC now owns 6,504 shares of the medical technology company’s stock worth $2,350,000 after buying an additional 399 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

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.