Stryker (NYSE:SYK) Given New $225.00 Price Target at SVB Leerink

Stryker (NYSE:SYK) had its price target hoisted by SVB Leerink from $215.00 to $225.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The brokerage currently has an “outperform” rating on the medical technology company’s stock. SVB Leerink’s price objective suggests a potential upside of 16.40% from the stock’s previous close.

Several other brokerages have also weighed in on SYK. Stifel Nicolaus increased their target price on Stryker from $145.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. UBS Group dropped their target price on Stryker from $230.00 to $202.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Cowen dropped their target price on Stryker from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. Barclays lowered Stryker from an “equal weight” rating to an “underweight” rating and set a $155.00 target price on the stock. in a research report on Monday, April 13th. Finally, Deutsche Bank dropped their target price on Stryker from $243.00 to $228.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. 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 issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $216.25.

SYK stock 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. The firm has a market cap of $72.45 billion, a P/E ratio of 28.10, a P/E/G ratio of 3.36 and a beta of 0.84. Stryker has a 12-month low of $124.54 and a 12-month high of $226.30. The stock’s 50 day simple moving average is $186.61 and its 200 day simple moving average is $189.31.

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

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. Evolution Wealth Advisors LLC raised its stake in shares of Stryker by 64.4% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 143 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 56 shares in the last quarter. TFG Advisers LLC raised its stake in shares of Stryker by 0.4% in the 1st quarter. TFG Advisers LLC now owns 13,141 shares of the medical technology company’s stock valued at $2,187,000 after acquiring an additional 57 shares in the last quarter. AIA Investment Management Private Ltd raised its stake in shares of Stryker by 10.1% in the 1st quarter. AIA Investment Management Private Ltd now owns 624 shares of the medical technology company’s stock valued at $104,000 after acquiring an additional 57 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Stryker by 6.6% in the 2nd quarter. Larson Financial Group LLC now owns 922 shares of the medical technology company’s stock valued at $166,000 after acquiring an additional 57 shares in the last quarter. Finally, Mattern Wealth Management LLC raised its stake in shares of Stryker by 1.1% in the 1st quarter. Mattern Wealth Management LLC now owns 5,365 shares of the medical technology company’s stock valued at $893,000 after acquiring an additional 58 shares in the last quarter. 71.24% of the stock is owned by institutional investors.

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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