Stryker (NYSE:SYK) PT Raised to $386.00

Stryker (NYSE:SYK) had its price objective lifted by Royal Bank of Canada from $360.00 to $386.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the medical technology company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 14.36% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Wells Fargo & Company boosted their target price on Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Citigroup increased their target price on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target on the stock in a research report on Wednesday, January 31st. Evercore ISI raised their target price on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and raised their target price for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $339.22.

Stryker Stock Down 0.5 %

Shares of SYK stock opened at $337.54 on Monday. The stock’s 50 day simple moving average is $350.70 and its 200 day simple moving average is $311.86. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. Stryker has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a market capitalization of $128.42 billion, a price-to-earnings ratio of 40.91, a PEG ratio of 2.75 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping the consensus estimate of $3.27 by $0.19. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.00 EPS. As a group, research analysts predict that Stryker will post 11.86 EPS for the current year.

Insider Transactions at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Allan C. Golston sold 3,273 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 212,109 shares of company stock valued at $72,845,768. 5.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Stryker

A number of large investors have recently added to or reduced their stakes in SYK. Norges Bank purchased a new position in shares of Stryker during the 4th quarter valued at $1,260,562,000. Moneta Group Investment Advisors LLC lifted its stake in Stryker by 109,726.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,139,948 shares of the medical technology company’s stock worth $767,686,000 after purchasing an additional 3,137,089 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its stake in Stryker by 87,902.2% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 2,077,732 shares of the medical technology company’s stock worth $555,482,000 after purchasing an additional 2,075,371 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in Stryker in the 4th quarter worth $312,539,000. Finally, Morgan Stanley lifted its stake in Stryker by 21.7% in the 4th quarter. Morgan Stanley now owns 5,978,782 shares of the medical technology company’s stock worth $1,461,753,000 after purchasing an additional 1,066,751 shares in the last quarter. 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.