Stryker (NYSE:SYK) Stock Price Expected to Rise, Evercore ISI Analyst Says

Stryker (NYSE:SYK) had its target price lifted by Evercore ISI from $380.00 to $384.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical technology company’s stock. Evercore ISI’s price target suggests a potential upside of 7.78% from the stock’s previous close.

A number of other analysts have also weighed in on the company. Barclays raised their target price on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Stifel Nicolaus lowered their target price on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Robert W. Baird raised their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Trading Down 2.0 %

SYK stock opened at $356.28 on Wednesday. The business has a fifty day moving average price of $359.90 and a 200 day moving average price of $344.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 0.95. Stryker has a fifty-two week low of $264.85 and a fifty-two week high of $374.63. The stock has a market capitalization of $135.77 billion, a price-to-earnings ratio of 38.19, a P/E/G ratio of 2.79 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share 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 company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the company posted $2.46 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. Analysts expect that Stryker will post 12.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on 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 completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 200,068 shares of company stock worth $65,151,372 over the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Stryker

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Tandem Investment Advisors Inc. boosted its position in Stryker by 8.2% during the 3rd quarter. Tandem Investment Advisors Inc. now owns 266,041 shares of the medical technology company’s stock worth $96,110,000 after acquiring an additional 20,199 shares during the last quarter. Portside Wealth Group LLC bought a new stake in shares of Stryker in the third quarter worth $215,000. Hara Capital LLC acquired a new position in Stryker during the third quarter worth $42,000. Kornitzer Capital Management Inc. KS grew its position in Stryker by 1.9% in the third quarter. Kornitzer Capital Management Inc. KS now owns 8,084 shares of the medical technology company’s stock valued at $2,920,000 after purchasing an additional 152 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Stryker by 6.2% in the 3rd quarter. Principal Financial Group Inc. now owns 398,422 shares of the medical technology company’s stock valued at $143,934,000 after buying an additional 23,329 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.