Evercore ISI Increases Stryker (NYSE:SYK) Price Target to $380.00

Stryker (NYSE:SYK) had its price target boosted by Evercore ISI from $365.00 to $380.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the medical technology company’s stock. Evercore ISI’s price target would suggest a potential upside of 7.01% from the stock’s previous close.

SYK has been the topic of a number of other reports. Morgan Stanley raised their price objective 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. Needham & Company LLC lifted their price target on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. UBS Group increased their price objective on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 target price on shares of Stryker in a research report on Wednesday, July 31st. Finally, Piper Sandler reissued an “overweight” rating and issued a $380.00 price target on shares of Stryker in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $379.37.

Stryker Price Performance

Shares of NYSE SYK opened at $355.11 on Tuesday. The firm has a market capitalization of $135.28 billion, a P/E ratio of 40.54, a P/E/G ratio of 2.78 and a beta of 0.91. The firm’s 50-day moving average price is $348.90 and its 200-day moving average price is $343.12. 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 1-year low of $249.98 and a 1-year high of $374.63.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.54 EPS. Equities research analysts anticipate that Stryker will post 12 earnings per share for the current fiscal year.

Insider Buying and Selling at Stryker

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Viju Menon sold 600 shares of the business’s 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 of the company’s stock, valued at $3,219,495. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock valued at $71,811,372 in the last quarter. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Stryker

A number of institutional investors have recently made changes to their positions in SYK. Aspen Investment Management Inc raised its holdings in shares of Stryker by 0.7% during the 1st quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock valued at $1,563,000 after buying an additional 31 shares in the last quarter. Harbor Investment Advisory LLC boosted its stake in shares of Stryker by 0.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock valued at $2,499,000 after purchasing an additional 31 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Stryker by 2.4% during the 1st quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after purchasing an additional 33 shares during the last quarter. Versant Capital Management Inc raised its position in Stryker by 4.0% in the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after purchasing an additional 33 shares during the period. Finally, Stanley Laman Group Ltd. lifted its stake in Stryker by 4.6% in the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after purchasing an additional 33 shares during the last quarter. 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.