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

Stryker (NYSE:SYKGet Free Report) had its price objective increased by equities researchers at Barclays from $402.00 to $418.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the medical technology company’s stock. Barclays‘s price target would suggest a potential upside of 16.33% from the company’s previous close.

Several other analysts have also recently commented on SYK. Piper Sandler reiterated an “overweight” rating and issued a $420.00 target price (up from $380.00) on shares of Stryker in a report on Wednesday. Evercore ISI boosted their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday. Wolfe Research began coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target on the stock. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Finally, BTIG Research boosted their price target on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and an average price target of $393.40.

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Stryker Trading Down 1.1 %

Shares of NYSE:SYK traded down $4.10 during midday trading on Thursday, hitting $359.33. 534,873 shares of the stock were exchanged, compared to its average volume of 1,252,151. The stock has a market capitalization of $136.89 billion, a price-to-earnings ratio of 41.09, a P/E/G ratio of 2.73 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The business’s 50-day moving average price is $359.79 and its 200 day moving average price is $343.98. Stryker has a 12 month low of $264.85 and a 12 month high of $374.63.

Stryker (NYSE:SYKGet Free Report) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.78 by $0.09. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the business posted $2.46 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. Analysts predict that Stryker will post 12 earnings per share for the current year.

Insider Transactions at Stryker

In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction 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 transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Stryker

A number of large investors have recently modified their holdings of the company. Norden Group LLC bought a new stake in shares of Stryker in the 1st quarter worth approximately $4,027,000. Kovack Advisors Inc. bought a new stake in shares of Stryker in the 1st quarter worth approximately $224,000. J.W. Cole Advisors Inc. grew its position in shares of Stryker by 6.8% in the 1st quarter. J.W. Cole Advisors Inc. now owns 2,606 shares of the medical technology company’s stock worth $933,000 after buying an additional 166 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Stryker by 4.4% in the 1st quarter. Private Advisor Group LLC now owns 15,310 shares of the medical technology company’s stock worth $5,479,000 after buying an additional 652 shares during the last quarter. Finally, Mission Wealth Management LP grew its position in shares of Stryker by 201.2% in the 1st quarter. Mission Wealth Management LP now owns 6,258 shares of the medical technology company’s stock worth $2,240,000 after buying an additional 4,180 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

About Stryker

(Get Free Report)

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.

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