Stryker (NYSE:SYK) Reaches New 1-Year High – Time to Buy?

Stryker Co. (NYSE:SYK)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $385.87 and last traded at $383.94, with a volume of 138554 shares traded. The stock had previously closed at $378.86.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SYK. JPMorgan Chase & Co. boosted their target price on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Evercore ISI boosted their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. BTIG Research boosted their price objective on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Citigroup boosted their target price on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Stryker Trading Up 1.4 %

The company has a market cap of $146.40 billion, a P/E ratio of 40.61, a PEG ratio of 2.83 and a beta of 0.91. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average price of $361.83 and a 200-day moving average price of $346.06.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.46 EPS. Analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction 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 directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction 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 directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,381 shares of company stock valued at $24,825,275. 5.90% of the stock is owned by insiders.

Institutional Trading of Stryker

Several large investors have recently modified their holdings of SYK. Parnassus Investments LLC acquired a new stake in shares of Stryker during the 3rd quarter worth $762,798,000. International Assets Investment Management LLC grew its holdings in shares of Stryker by 66,967.5% during the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after purchasing an additional 852,496 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after purchasing an additional 813,311 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Stryker by 146.9% during the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after purchasing an additional 522,817 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Stryker by 287.6% during the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after purchasing an additional 375,166 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.