Morgan Stanley Increases Stryker (NYSE:SYK) Price Target to $225.00

Stryker (NYSE:SYK) had its target price upped by analysts at Morgan Stanley from $215.00 to $225.00 in a report released on Friday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the medical technology company’s stock. Morgan Stanley’s price target indicates a potential upside of 16.40% from the company’s current price.

Other analysts also recently issued reports about the stock. Wells Fargo & Co raised their price objective on shares of Stryker from $201.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Argus decreased their price objective on shares of Stryker from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Needham & Company LLC restated a “hold” rating on shares of Stryker in a research report on Friday. Citigroup lifted their price target on shares of Stryker from $227.00 to $232.00 and gave the company a “buy” rating in a report on Friday. Finally, Zacks Investment Research downgraded shares of Stryker from a “hold” rating to a “sell” rating and set a $190.00 price target on the stock. in a report on Monday, May 4th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $216.25.

SYK opened at $193.30 on Friday. The company has a current ratio of 2.58, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. Stryker has a 1-year low of $124.54 and a 1-year high of $226.30. The company has a market capitalization of $72.45 billion, a PE ratio of 28.10, a PEG ratio of 3.36 and a beta of 0.84. The firm’s 50 day simple moving average is $186.61 and its two-hundred day simple moving average is $189.31.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, July 30th. The medical technology company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02. Stryker had a net margin of 11.38% and a return on equity of 20.53%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.63 billion. Equities analysts forecast that Stryker will post 6.26 earnings per share for the current fiscal year.

In other news, Director Srikant M. Datar sold 200 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $186.01, for a total value of $37,202.00. Following the completion of the sale, the director now owns 17,686 shares in the company, valued at approximately $3,289,772.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Katherine Ann Owen sold 9,149 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $186.79, for a total transaction of $1,708,941.71. Following the completion of the sale, the vice president now owns 1,085 shares of the company’s stock, valued at approximately $202,667.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,670 shares of company stock valued at $5,775,251. Company insiders own 6.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SYK. Fisher Asset Management LLC raised its stake in shares of Stryker by 48,721.0% during the 1st quarter. Fisher Asset Management LLC now owns 1,301,567 shares of the medical technology company’s stock worth $216,698,000 after acquiring an additional 1,298,901 shares in the last quarter. BlueSpruce Investments LP bought a new position in shares of Stryker during the 1st quarter worth approximately $194,038,000. Massachusetts Financial Services Co. MA raised its stake in shares of Stryker by 20.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 6,216,034 shares of the medical technology company’s stock worth $1,034,908,000 after acquiring an additional 1,069,721 shares in the last quarter. 1832 Asset Management L.P. raised its stake in shares of Stryker by 519.3% during the 1st quarter. 1832 Asset Management L.P. now owns 1,199,607 shares of the medical technology company’s stock worth $196,926,000 after acquiring an additional 1,005,913 shares in the last quarter. Finally, WCM Investment Management LLC raised its stake in shares of Stryker by 97.7% during the 1st quarter. WCM Investment Management LLC now owns 1,425,836 shares of the medical technology company’s stock worth $237,387,000 after acquiring an additional 704,585 shares in the last quarter. Hedge funds and other institutional investors own 71.24% of the company’s stock.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Analyst Recommendations for Stryker (NYSE:SYK)

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