Stifel Nicolaus Boosts Stryker (NYSE:SYK) Price Target to $375.00

Stryker (NYSE:SYK) had its price target upped by equities researchers at Stifel Nicolaus from $350.00 to $375.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the medical technology company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 14.77% from the stock’s current price.

Several other equities analysts have also recently issued reports on SYK. Evercore ISI raised their price target on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. BTIG Research raised their price target on Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial increased their target price on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. Roth Mkm increased their target price on Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Finally, Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price on the stock in a research note on Wednesday, January 31st. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $365.94.

Stryker Price Performance

Shares of SYK stock opened at $326.73 on Wednesday. The stock’s fifty day moving average is $347.52 and its 200-day moving average is $316.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.97 and a current ratio of 1.71. The stock has a market capitalization of $124.31 billion, a PE ratio of 37.30, a PEG ratio of 2.63 and a beta of 0.91. Stryker has a 52 week low of $249.98 and a 52 week high of $361.41.

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

Insider Transactions at Stryker

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Burkett Financial Services LLC bought a new position in Stryker in the fourth quarter valued at approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 61 shares in the last quarter. Rogco LP bought a new position in Stryker in the fourth quarter valued at approximately $30,000. Central Pacific Bank Trust Division bought a new position in Stryker in the first quarter valued at approximately $39,000. Finally, DSM Capital Partners LLC bought a new position in Stryker in the fourth quarter valued at approximately $34,000. 77.09% of the stock is currently owned by institutional investors.

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.