Stryker (NYSE:SYK) Reaches New 1-Year High – Time to Buy?

Stryker Co. (NYSE:SYK) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $385.87 and last traded at $383.94, with a volume of 138554 shares trading hands. The stock had previously closed at $378.86.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SYK shares. Stifel Nicolaus reduced their target price 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. Morgan Stanley lifted their price target on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. boosted their price objective on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Citigroup boosted their price objective on shares of Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Evercore ISI increased their price objective on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $393.65.

Stryker Price Performance

The stock has a 50 day moving average of $361.83 and a two-hundred day moving average of $346.06. The stock has a market cap of $146.40 billion, a PE ratio of 40.61, a PEG ratio of 2.83 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. Stryker’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $2.46 EPS. Equities analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Insider Buying and Selling at Stryker

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,381 shares of company stock valued at $24,825,275 in the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Stryker

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Stryker by 1.0% during the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after buying an additional 309,592 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Stryker by 10.4% during the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after buying an additional 813,311 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after buying an additional 66,482 shares during the last quarter. Parnassus Investments LLC bought a new stake in shares of Stryker during the third quarter valued at approximately $762,798,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Stryker by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,936,226 shares of the medical technology company’s stock valued at $699,481,000 after acquiring an additional 37,000 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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.