Stryker (NYSE:SYK) Given Buy Rating at Needham & Company LLC

Stryker (NYSE:SYK)‘s stock had its “buy” rating restated by Needham & Company LLC in a report released on Wednesday,Benzinga reports. They presently have a $442.00 price target on the medical technology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 11.92% from the stock’s current price.

Several other research analysts have also recently commented on SYK. JMP Securities restated a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Royal Bank of Canada reissued an “outperform” rating and set a $425.00 price target on shares of Stryker in a report on Tuesday, January 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price objective (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. BTIG Research raised their price objective on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Barclays lifted their target price on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $407.55.

Stryker Stock Down 1.2 %

NYSE:SYK opened at $394.92 on Wednesday. The firm has a market capitalization of $150.55 billion, a PE ratio of 42.33, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95. Stryker has a 52 week low of $310.74 and a 52 week high of $406.19. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average of $376.44 and a 200-day moving average of $361.98.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.07% and a net margin of 16.34%. During the same period last year, the firm earned $3.46 EPS. Analysts predict that Stryker will post 12.06 EPS for the current year.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Stryker

A number of institutional investors have recently modified their holdings of the company. Advisory Alpha LLC raised its holdings in Stryker by 20.4% in the 2nd quarter. Advisory Alpha LLC now owns 2,304 shares of the medical technology company’s stock worth $784,000 after acquiring an additional 390 shares during the period. Cetera Investment Advisers grew its position in shares of Stryker by 2.5% in the second quarter. Cetera Investment Advisers now owns 89,948 shares of the medical technology company’s stock valued at $30,605,000 after purchasing an additional 2,220 shares during the last quarter. New Century Financial Group LLC lifted its position in shares of Stryker by 29.5% during the 2nd quarter. New Century Financial Group LLC now owns 798 shares of the medical technology company’s stock worth $272,000 after purchasing an additional 182 shares during the last quarter. Centennial Bank AR lifted its position in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the last quarter. Finally, Clear Rock Advisors LLC boosted its stake in Stryker by 1.4% during the 2nd quarter. Clear Rock Advisors LLC now owns 10,426 shares of the medical technology company’s stock valued at $3,547,000 after purchasing an additional 140 shares during the period. 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.