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

Stryker (NYSE:SYK) had its price objective boosted by investment analysts at Canaccord Genuity Group from $360.00 to $400.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the medical technology company’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 10.48% from the company’s current price.

Several other research firms have also recently issued reports on SYK. BTIG Research raised their price target on Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 14th. Morgan Stanley raised their target price on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. lifted their price target on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group increased their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Needham & Company LLC lifted their target price on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $392.05.

Stryker Price Performance

NYSE SYK traded up $3.04 on Wednesday, hitting $362.05. 1,376,756 shares of the company were exchanged, compared to its average volume of 1,251,263. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The company has a market cap of $137.92 billion, a P/E ratio of 41.13, a P/E/G ratio of 2.73 and a beta of 0.91. Stryker has a 1-year low of $264.85 and a 1-year high of $374.63. The firm has a 50 day moving average of $359.43 and a two-hundred day moving average of $343.84.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.09. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.46 earnings per share. On average, equities analysts predict that Stryker will post 12 EPS for the current year.

Insider Buying and Selling

In other Stryker news, insider Viju Menon sold 600 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Viju Menon sold 600 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock worth $71,811,372 over the last ninety days. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Institutional investors and hedge funds have recently bought and sold shares of the stock. Patrick M Sweeney & Associates Inc. grew its position in shares of Stryker by 1.5% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after acquiring an additional 32 shares during the period. Proficio Capital Partners LLC increased its position in Stryker by 2.4% during the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after buying an additional 33 shares during the last quarter. Versant Capital Management Inc raised its stake in Stryker by 4.0% in the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after buying an additional 33 shares during the period. Stanley Laman Group Ltd. lifted its position in shares of Stryker by 4.6% in the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after buying an additional 33 shares during the last quarter. Finally, Plimoth Trust Co. LLC boosted its stake in shares of Stryker by 0.3% during the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after acquiring an additional 33 shares during the period. Institutional investors 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.