Citigroup Forecasts Strong Price Appreciation for Stryker (NYSE:SYK) Stock

Stryker (NYSE:SYK) had its target price boosted by Citigroup from $411.00 to $450.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical technology company’s stock. Citigroup’s target price points to a potential upside of 20.00% from the company’s current price.

Other equities analysts have also issued research reports about the company. Wolfe Research started coverage on Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price on the stock. Robert W. Baird increased their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their target price on Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a research note on Wednesday. Canaccord Genuity Group increased their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, UBS Group lifted their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $404.35.

Stryker Price Performance

NYSE:SYK opened at $375.01 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average price is $372.42 and its two-hundred day moving average price is $354.51. The firm has a market capitalization of $142.96 billion, a price-to-earnings ratio of 40.23, a P/E/G ratio of 2.89 and a beta of 0.94. Stryker has a 12-month low of $285.79 and a 12-month high of $398.20.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.46 earnings per share. On average, analysts anticipate that Stryker will post 12.06 earnings per share for the current year.

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The trade was a 42.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated 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 transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Avestar Capital LLC lifted its holdings in Stryker by 1.1% during the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after buying an additional 31 shares during the period. Patrick M Sweeney & Associates Inc. lifted its stake in shares of Stryker by 1.5% in 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 purchasing an additional 32 shares during the period. Stanley Laman Group Ltd. lifted its stake in shares of Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after purchasing an additional 33 shares during the period. Plimoth Trust Co. LLC lifted its stake in shares of Stryker by 0.3% in the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after purchasing an additional 33 shares during the period. Finally, Grimes & Company Inc. lifted its stake in shares of Stryker by 0.4% in the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock valued at $2,977,000 after purchasing an additional 33 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

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.