Stryker (NYSE:SYK) Hits New 52-Week High – Should You Buy?

Shares of Stryker Co. (NYSE:SYK) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $376.04 and last traded at $374.28, with a volume of 37969 shares. The stock had previously closed at $369.86.

Analysts Set New Price Targets

A number of brokerages have commented on SYK. Morgan Stanley increased their target price on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Barclays increased their price objective on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Canaccord Genuity Group increased their target price on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Evercore ISI increased their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Price Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The company has a market capitalization of $140.68 billion, a PE ratio of 39.64, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The stock’s 50 day simple moving average is $360.66 and its 200-day simple moving average is $344.95.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the firm earned $2.46 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insider Activity

In related news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,068 shares of company stock worth $3,693,972. 5.50% of the stock is currently owned by insiders.

Institutional Trading of Stryker

Large investors have recently bought and sold shares of the business. Seelaus Asset Management LLC boosted its stake in shares of Stryker by 2.2% during the third quarter. Seelaus Asset Management LLC now owns 2,779 shares of the medical technology company’s stock worth $1,004,000 after buying an additional 60 shares during the period. Coastline Trust Co acquired a new stake in Stryker during the 3rd quarter worth approximately $194,000. Simplify Asset Management Inc. grew its stake in shares of Stryker by 64.1% in the 3rd quarter. Simplify Asset Management Inc. now owns 1,812 shares of the medical technology company’s stock valued at $655,000 after purchasing an additional 708 shares during the last quarter. Bank of Marin increased its holdings in shares of Stryker by 3.4% in the third quarter. Bank of Marin now owns 2,301 shares of the medical technology company’s stock valued at $831,000 after purchasing an additional 75 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of Stryker by 6.5% during the third quarter. Empowered Funds LLC now owns 6,504 shares of the medical technology company’s stock worth $2,350,000 after purchasing an additional 399 shares during the last quarter. Institutional investors and hedge funds 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.