BTIG Research Boosts Stryker (NYSE:SYK) Price Target to $369.00

Stryker (NYSE:SYK) had its price target boosted by equities research analysts at BTIG Research from $366.00 to $369.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the medical technology company’s stock. BTIG Research’s price objective would suggest a potential upside of 12.94% from the stock’s current price.

A number of other research firms have also recently commented on SYK. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price on the stock in a research report on Wednesday, January 31st. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and upped their target price for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. Evercore ISI upped their target price on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Truist Financial upped their target price on shares of Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Finally, Citigroup raised their price objective on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.94.

Stryker Trading Down 0.4 %

Shares of SYK stock opened at $326.73 on Wednesday. The company’s 50-day moving average price is $347.52 and its 200-day moving average price is $316.85. The company has a current ratio of 1.71, a quick ratio of 0.97 and a debt-to-equity ratio of 0.56. The stock has a market cap of $124.31 billion, a price-to-earnings ratio of 37.30, a PEG ratio of 2.63 and a beta of 0.91. Stryker has a twelve month low of $249.98 and a twelve month high of $361.41.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter in the prior year, the company posted $2.14 earnings per share. Stryker’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities analysts predict that Stryker will post 11.93 earnings per share for the current year.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the sale, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the sale, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Institutional Trading of Stryker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYK. Central Pacific Bank Trust Division purchased a new position in shares of Stryker during the first quarter worth approximately $39,000. Whittier Trust Co. grew its position in shares of Stryker by 4.2% during the first quarter. Whittier Trust Co. now owns 3,346 shares of the medical technology company’s stock worth $1,197,000 after acquiring an additional 134 shares during the last quarter. Suncoast Equity Management grew its position in shares of Stryker by 3.2% during the first quarter. Suncoast Equity Management now owns 124,773 shares of the medical technology company’s stock worth $44,652,000 after acquiring an additional 3,887 shares during the last quarter. Pegasus Asset Management Inc. grew its position in shares of Stryker by 1.2% during the first quarter. Pegasus Asset Management Inc. now owns 4,687 shares of the medical technology company’s stock worth $1,677,000 after acquiring an additional 54 shares during the last quarter. Finally, Financial Counselors Inc. grew its position in shares of Stryker by 0.3% during the first quarter. Financial Counselors Inc. now owns 35,531 shares of the medical technology company’s stock worth $12,716,000 after acquiring an additional 97 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

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.