Truist Financial Forecasts Strong Price Appreciation for Stryker (NYSE:SYK) Stock

Stryker (NYSE:SYK) had its price objective hoisted by equities researchers at Truist Financial from $370.00 to $380.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the medical technology company’s stock. Truist Financial’s price target indicates a potential upside of 5.59% from the stock’s previous close.

SYK has been the subject of a number of other research reports. BTIG Research lifted their price objective on Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Stifel Nicolaus decreased their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Needham & Company LLC raised their price objective on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Evercore ISI increased their target price on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $387.35.

Stryker Price Performance

Shares of NYSE SYK traded up $0.87 during trading on Wednesday, reaching $359.88. The company had a trading volume of 1,008,465 shares, compared to its average volume of 1,249,689. 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 twelve month low of $264.85 and a twelve month high of $374.63. The stock has a 50-day moving average price of $359.43 and a two-hundred day moving average price of $343.84. The stock has a market capitalization of $137.10 billion, a PE ratio of 41.08, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.09. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the previous year, the company posted $2.46 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that Stryker will post 12 earnings per share for the current year.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, the director now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction on 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 directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock valued at $71,811,372 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

A number of large investors have recently modified their holdings of SYK. Norden Group LLC acquired a new position in shares of Stryker during the first quarter worth approximately $4,027,000. Kovack Advisors Inc. acquired a new position in shares of Stryker during the first quarter valued at approximately $224,000. New Century Financial Group LLC bought a new stake in Stryker during the first quarter worth approximately $220,000. Maryland State Retirement & Pension System lifted its position in Stryker by 0.9% in the first quarter. Maryland State Retirement & Pension System now owns 27,892 shares of the medical technology company’s stock worth $9,347,000 after purchasing an additional 236 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its stake in Stryker by 6.8% during the 1st quarter. J.W. Cole Advisors Inc. now owns 2,606 shares of the medical technology company’s stock valued at $933,000 after purchasing an additional 166 shares in 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.