Barclays Boosts Stryker (NYSE:SYK) Price Target to $376.00

Stryker (NYSE:SYK) had its target price hoisted by investment analysts at Barclays from $372.00 to $376.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical technology company’s stock. Barclays‘s price target would suggest a potential upside of 14.48% from the company’s previous close.

Other analysts have also recently issued research reports about the company. TD Cowen upped their price objective on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price for the company in a research note on Wednesday, January 31st. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and raised their price target for the stock from $315.00 to $360.00 in a research report on Wednesday, January 31st. Evercore ISI raised their target price on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Piper Sandler raised their price target on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.94.

Stryker Trading Up 0.6 %

NYSE:SYK traded up $1.82 during mid-day trading on Thursday, reaching $328.45. The company’s stock had a trading volume of 1,589,424 shares, compared to its average volume of 1,415,127. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.97. The stock has a market cap of $125.12 billion, a P/E ratio of 37.49, a P/E/G ratio of 2.55 and a beta of 0.91. The company’s fifty day simple moving average is $347.52 and its two-hundred day simple moving average is $316.85. Stryker has a twelve month low of $249.98 and a twelve month high of $361.41.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the business posted $2.14 EPS. On average, equities analysts predict that Stryker will post 11.94 EPS for the current year.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the sale, the director now directly owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the 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 sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

A number of institutional investors have recently bought and sold shares of the stock. Burkett Financial Services LLC purchased a new position in Stryker during the 4th quarter worth approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA raised its position in Stryker by 203.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after buying an additional 61 shares during the period. Rogco LP purchased a new stake in Stryker in the 4th quarter worth about $30,000. DSM Capital Partners LLC acquired a new stake in Stryker during the 4th quarter worth about $34,000. Finally, HBC Financial Services PLLC purchased a new position in Stryker during the 4th quarter valued at about $37,000. 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.