Brokerages Set Stryker Co. (NYSE:SYK) PT at $398.40

Shares of Stryker Co. (NYSE:SYK) have been given a consensus rating of “Moderate Buy” by the twenty ratings firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $398.40.

A number of research firms have weighed in on SYK. Robert W. Baird upped their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Barclays upped their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Canaccord Genuity Group lifted their price target on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This trade represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,781 shares of company stock worth $24,612,275. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Stryker

Several institutional investors have recently made changes to their positions in the business. State Street Corp raised its holdings in Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares during the period. FMR LLC raised its stake in shares of Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after buying an additional 215,782 shares during the period. Geode Capital Management LLC lifted its position in shares of Stryker by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after buying an additional 165,490 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Stryker by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after acquiring an additional 66,482 shares in the last quarter. Finally, Parnassus Investments LLC bought a new stake in Stryker during the 3rd quarter worth approximately $762,798,000. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $385.02 on Wednesday. The firm has a market capitalization of $146.78 billion, a price-to-earnings ratio of 41.27, a PEG ratio of 2.90 and a beta of 0.94. The stock has a fifty day moving average of $371.10 and a 200 day moving average of $353.67. Stryker has a 52 week low of $285.79 and a 52 week high of $398.20. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS 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 firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the company posted $2.46 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, research analysts expect that Stryker will post 12.06 earnings per share for the current year.

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.