Stryker (NYSE:SYK) Price Target Raised to $370.00 at UBS Group

Stryker (NYSE:SYK) had its price objective boosted by research analysts at UBS Group from $366.00 to $370.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the medical technology company’s stock. UBS Group’s target price points to a potential upside of 3.85% from the stock’s current price.

SYK has been the subject of a number of other reports. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Barclays boosted their target price on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Stifel Nicolaus dropped their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Wells Fargo & Company raised their price objective on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $386.00 target price on shares of Stryker in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Performance

Shares of SYK stock opened at $356.28 on Wednesday. The firm has a 50 day moving average of $359.90 and a two-hundred day moving average of $344.06. The stock has a market capitalization of $135.77 billion, a PE ratio of 38.19, a P/E/G ratio of 2.79 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker has a 52 week low of $264.85 and a 52 week high of $374.63.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.09. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the business posted $2.46 earnings per share. Stryker’s revenue was up 11.9% compared to the same quarter last year. On average, research analysts predict that Stryker will post 12.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 200,068 shares of company stock worth $65,151,372. 5.90% of the stock is owned by insiders.

Institutional Trading of Stryker

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Stryker by 1.0% during the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after buying an additional 309,592 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after acquiring an additional 813,311 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Stryker by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after acquiring an additional 66,482 shares during the period. TD Asset Management Inc increased its stake in Stryker by 2.9% in the 1st quarter. TD Asset Management Inc now owns 1,601,380 shares of the medical technology company’s stock valued at $573,086,000 after purchasing an additional 44,765 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Stryker by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock worth $411,624,000 after purchasing an additional 46,375 shares during the last quarter. Institutional investors and hedge funds 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.