Stryker (NYSE:SYK) Stock Price Expected to Rise, Barclays Analyst Says

Stryker (NYSE:SYK) had its target price boosted by equities research analysts at Barclays from $402.00 to $418.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the medical technology company’s stock. Barclays‘s price target points to a potential upside of 13.85% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday. Evercore ISI lifted their target price on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday. Truist Financial increased their price target on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research report on Wednesday. Canaccord Genuity Group lifted their price objective on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Needham & Company LLC increased their target price on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Performance

Shares of Stryker stock opened at $367.15 on Thursday. The business has a 50-day simple moving average of $360.18 and a 200 day simple moving average of $344.26. The firm has a market capitalization of $139.96 billion, a price-to-earnings ratio of 39.35, a PEG ratio of 2.69 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 0.95. Stryker has a one year low of $266.93 and a one year high of $374.63.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating 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 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 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. On average, research analysts anticipate that Stryker will post 12.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the business’s 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 sale, the director now owns 3,316,608 shares of the company’s stock, valued at $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 SEC, which is available through this link. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction on 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 $3,685,213.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 200,068 shares of company stock worth $65,151,372 over the last quarter. 5.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Centennial Bank AR grew its stake in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Stryker during the 1st quarter valued at $39,000. HBW Advisory Services LLC purchased a new position in shares of Stryker during the 3rd quarter valued at $42,000. Hara Capital LLC purchased a new stake in shares of Stryker in the third quarter worth $42,000. Finally, Grove Bank & Trust raised its position in shares of Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors 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.