BTIG Research Raises Stryker (NYSE:SYK) Price Target to $383.00

by · The Markets Daily

Stryker (NYSE:SYK – Get Free Report) had its price objective lifted by BTIG Research from $374.00 to $383.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the medical technology company’s stock. BTIG Research’s price objective indicates a potential upside of 6.63% from the company’s current price.

Several other equities analysts also recently issued reports on SYK. Wolfe Research initiated coverage on shares of Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective on the stock. Truist Financial lifted their price objective on Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a report on Monday. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. UBS Group lifted their price target on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Needham & Company LLC increased their price objective on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $381.16.

Check Out Our Latest Stock Analysis on SYK

Stryker Stock Performance

SYK traded up $3.58 on Monday, reaching $359.18. The stock had a trading volume of 242,383 shares, compared to its average volume of 1,255,458. The business’s 50-day moving average price is $351.84 and its two-hundred day moving average price is $342.94. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Stryker has a 12-month low of $255.22 and a 12-month high of $374.63. The company has a market cap of $136.83 billion, a P/E ratio of 41.02, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91.

Stryker (NYSE:SYK – Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.79 by $0.02. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. Stryker’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $2.54 earnings per share. Sell-side analysts forecast that Stryker will post 12 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock valued at $71,811,372 over the last 90 days. 5.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Stryker

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Centennial Bank AR boosted its holdings in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of Stryker in the 1st quarter valued at about $39,000. HBW Advisory Services LLC purchased a new stake in shares of Stryker during the third quarter worth approximately $42,000. Grove Bank & Trust raised its holdings in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 56 shares in the last quarter. Finally, Sachetta LLC lifted its position in shares of Stryker by 16.3% during the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after purchasing an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Company Profile

(Get Free Report)

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.

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