Stryker Co. (NYSE:SYK) Receives $398.40 Consensus PT from Brokerages

Shares of Stryker Co. (NYSE:SYK) have been assigned a consensus rating of “Moderate Buy” from the twenty ratings firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $398.40.

SYK has been the topic of several analyst reports. Canaccord Genuity Group increased their price target on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. UBS Group boosted their price target on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Robert W. Baird raised their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, BTIG Research boosted their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th.

Stryker Trading Up 0.7 %

Shares of NYSE:SYK opened at $385.02 on Wednesday. The company has a market capitalization of $146.78 billion, a P/E ratio of 41.27, a P/E/G ratio of 2.90 and a beta of 0.94. 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 business’s 50 day simple moving average is $371.10 and its 200 day simple moving average is $353.67. Stryker has a 1 year low of $285.79 and a 1 year high of $398.20.

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

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction dated 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 approximately $3,685,213.16. This trade represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,781 shares of company stock valued at $24,612,275 in the last three months. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Hedge funds have recently added to or reduced their stakes in the business. Avestar Capital LLC boosted its holdings in Stryker by 1.1% during the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock valued at $1,065,000 after acquiring an additional 31 shares during the period. Patrick M Sweeney & Associates Inc. boosted its stake in shares of Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after purchasing an additional 32 shares during the period. Stanley Laman Group Ltd. grew its holdings 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 worth $256,000 after purchasing an additional 33 shares during the last quarter. Plimoth Trust Co. LLC increased its stake in shares of Stryker by 0.3% in the second quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after buying an additional 33 shares during the period. Finally, Grimes & Company Inc. raised its holdings in Stryker by 0.4% during the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock valued at $2,977,000 after buying an additional 33 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

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.