Stryker (NYSE:SYK) Price Target Raised to $400.00

Stryker (NYSE:SYK) had its price target raised by equities research analysts at Truist Financial from $392.00 to $400.00 in a report released on Friday, MarketBeat Ratings reports. The brokerage currently has a “hold” rating on the medical technology company’s stock. Truist Financial’s target price indicates a potential upside of 8.94% from the company’s previous close.

SYK has been the subject of a number of other reports. Barclays upped their price objective on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Needham & Company LLC restated a “buy” rating and issued a $448.00 target price on shares of Stryker in a report on Friday. Sanford C. Bernstein reissued an “outperform” rating on shares of Stryker in a research report on Monday, November 3rd. Rothschild & Co Redburn assumed coverage on Stryker in a research note on Thursday, September 18th. They set a “neutral” rating and a $420.00 target price on the stock. Finally, BTIG Research reaffirmed a “buy” rating and set a $410.00 price objective on shares of Stryker in a research report on Friday. Thirteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $434.37.

Stryker Trading Down 1.7%

Shares of SYK traded down $6.23 during trading hours on Friday, hitting $367.19. The stock had a trading volume of 955,121 shares, compared to its average volume of 1,439,137. The company’s fifty day simple moving average is $372.55 and its 200 day simple moving average is $381.18. Stryker has a 12-month low of $329.16 and a 12-month high of $406.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The firm has a market cap of $140.42 billion, a P/E ratio of 48.61, a P/E/G ratio of 2.66 and a beta of 0.94.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, October 30th. The medical technology company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. During the same period in the previous year, the company posted $2.87 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. Equities research analysts forecast that Stryker will post 13.47 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 276,173 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total value of $97,566,397.44. Following the completion of the transaction, the director owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. The trade was a 9.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Viju Menon sold 500 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the sale, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 520,500 shares of company stock valued at $184,803,065. 5.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Stryker

A number of hedge funds and other institutional investors have recently bought and sold shares of SYK. Brighton Jones LLC boosted its stake in Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after buying an additional 609 shares in the last quarter. Edgestream Partners L.P. lifted its stake in Stryker by 27.0% in the 1st quarter. Edgestream Partners L.P. now owns 893 shares of the medical technology company’s stock valued at $332,000 after purchasing an additional 190 shares during the last quarter. Legacy Capital Wealth Partners LLC boosted its position in Stryker by 14.2% in the first quarter. Legacy Capital Wealth Partners LLC now owns 780 shares of the medical technology company’s stock valued at $290,000 after buying an additional 97 shares in the last quarter. Graypoint LLC grew its stake in shares of Stryker by 1.5% during the first quarter. Graypoint LLC now owns 3,485 shares of the medical technology company’s stock worth $1,297,000 after buying an additional 51 shares during the last quarter. Finally, Forum Financial Management LP increased its holdings in shares of Stryker by 28.5% during the first quarter. Forum Financial Management LP now owns 3,154 shares of the medical technology company’s stock worth $1,174,000 after buying an additional 699 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

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.