Stryker (NYSE:SYK) Stock Price Up 2.8%

Shares of Stryker Co. (NYSE:SYK) shot up 2.8% during trading on Thursday . The stock traded as high as $291.70 and last traded at $291.70. 621,772 shares were traded during trading, a decline of 55% from the average session volume of 1,385,391 shares. The stock had previously closed at $283.64.

Analysts Set New Price Targets

Several research firms have commented on SYK. Barclays increased their price target on shares of Stryker from $321.00 to $335.00 and gave the company an “overweight” rating in a research report on Monday, August 7th. Roth Mkm reissued a “buy” rating and set a $345.00 price target on shares of Stryker in a research report on Thursday, November 9th. UBS Group increased their price target on shares of Stryker from $289.00 to $297.00 and gave the company a “neutral” rating in a research report on Thursday, November 9th. Truist Financial increased their price target on shares of Stryker from $270.00 to $300.00 and gave the company a “hold” rating in a research report on Monday, November 6th. Finally, Morgan Stanley increased their price objective on shares of Stryker from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Monday, August 7th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $311.30.

Stryker Stock Down 1.1 %

The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.83 and a current ratio of 1.48. The firm has a market cap of $109.55 billion, a price-to-earnings ratio of 42.79, a PEG ratio of 2.78 and a beta of 0.94. The business’s 50 day moving average price is $275.07 and its 200 day moving average price is $282.55.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, November 2nd. The medical technology company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.03. The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.87 billion. Stryker had a net margin of 13.00% and a return on equity of 22.62%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.12 EPS. On average, equities analysts forecast that Stryker Co. will post 10.41 EPS for the current year.

Insider Activity

In other news, Director Srikant M. Datar sold 500 shares of Stryker stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $291.92, for a total transaction of $145,960.00. Following the completion of the transaction, the director now directly owns 4,316 shares of the company’s stock, valued at approximately $1,259,926.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Srikant M. Datar sold 750 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $287.57, for a total value of $215,677.50. Following the completion of the sale, the director now owns 5,316 shares of the company’s stock, valued at approximately $1,528,722.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Srikant M. Datar sold 500 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $291.92, for a total transaction of $145,960.00. Following the completion of the sale, the director now directly owns 4,316 shares of the company’s stock, valued at approximately $1,259,926.72. The disclosure for this sale can be found here. Insiders sold a total of 6,250 shares of company stock valued at $1,806,638 in the last three months. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Stryker

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vinva Investment Management Ltd purchased a new stake in shares of Stryker during the first quarter worth $3,257,000. Aviance Capital Partners LLC boosted its position in shares of Stryker by 3.7% during the 2nd quarter. Aviance Capital Partners LLC now owns 2,096 shares of the medical technology company’s stock valued at $639,000 after acquiring an additional 75 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Stryker by 0.7% during the 1st quarter. Stifel Financial Corp now owns 400,767 shares of the medical technology company’s stock valued at $114,412,000 after acquiring an additional 2,868 shares during the last quarter. Andra AP fonden boosted its position in shares of Stryker by 28.8% during the 2nd quarter. Andra AP fonden now owns 30,422 shares of the medical technology company’s stock valued at $9,281,000 after acquiring an additional 6,800 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Stryker by 28.6% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,451 shares of the medical technology company’s stock valued at $1,271,000 after acquiring an additional 990 shares during the last quarter. Hedge funds and other institutional investors own 76.24% of the company’s stock.

Stryker Company Profile

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.