Stryker (NYSE:SYK) Price Target Raised to $409.00 at Truist Financial

Stryker (NYSE:SYK) had its target price hoisted by investment analysts at Truist Financial from $380.00 to $409.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the medical technology company’s stock. Truist Financial’s price target indicates a potential upside of 14.52% from the company’s previous close.

Several other equities research analysts have also weighed in on SYK. Barclays increased their price objective on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Wolfe Research assumed coverage on Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price for the company. JPMorgan Chase & Co. raised their price target on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, Citigroup increased their target price on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Trading Down 0.6 %

NYSE:SYK opened at $357.14 on Wednesday. The company has a market cap of $136.15 billion, a PE ratio of 38.28, a P/E/G ratio of 2.82 and a beta of 0.94. The business’s 50 day moving average is $374.48 and its two-hundred day moving average is $355.60. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker has a 52 week low of $288.15 and a 52 week high of $398.20.

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, topping 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 firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the business posted $2.46 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts predict that Stryker will post 12.06 EPS for the current year.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value 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 36.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 5.90% of the stock is owned by insiders.

Institutional Trading of Stryker

A number of large investors have recently added to or reduced their stakes in SYK. Avestar Capital LLC lifted its stake in Stryker by 1.1% during the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock valued at $1,065,000 after buying an additional 31 shares in the last quarter. Patrick M Sweeney & Associates Inc. grew its holdings in shares of Stryker by 1.5% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after acquiring an additional 32 shares in the last quarter. Grimes & Company Inc. increased its position in Stryker by 0.4% in the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock worth $2,977,000 after purchasing an additional 33 shares during the last quarter. Sachetta LLC increased its holdings in Stryker by 16.3% in the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after buying an additional 34 shares during the last quarter. Finally, Moran Wealth Management LLC raised its holdings in shares of Stryker by 0.4% during the 3rd quarter. Moran Wealth Management LLC now owns 9,047 shares of the medical technology company’s stock valued at $3,268,000 after purchasing an additional 34 shares in 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.