Truist Financial Increases Stryker (NYSE:SYK) Price Target to $400.00

Stryker (NYSE:SYK) had its target price upped by equities research analysts at Truist Financial from $392.00 to $400.00 in a note issued to investors on Friday, MarketBeat reports. The brokerage presently has a “hold” rating on the medical technology company’s stock. Truist Financial’s price objective would indicate a potential upside of 8.94% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company lifted their target price on Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group set a $408.00 price objective on shares of Stryker in a research note on Monday, October 13th. BTIG Research reissued a “buy” rating and issued a $410.00 target price on shares of Stryker in a research note on Friday. Barclays upped their price target on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, Rothschild & Co Redburn assumed coverage on shares of Stryker in a research note on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price objective for the company. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $434.37.

Stryker Stock Performance

NYSE:SYK traded down $6.23 during mid-day trading on Friday, hitting $367.19. 955,121 shares of the company traded hands, compared to its average volume of 1,439,137. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The stock’s fifty day moving average price is $372.55 and its 200-day moving average price is $381.18. The firm has a market cap of $140.42 billion, a price-to-earnings ratio of 48.61, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94. Stryker has a one year low of $329.16 and a one year high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, October 30th. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $0.06. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $2.87 EPS. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. Research analysts anticipate that Stryker will post 13.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the sale, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 276,173 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the completion of the sale, the director directly owned 2,702,108 shares in the company, valued at $954,600,714.24. This trade represents a 9.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 520,500 shares of company stock worth $184,803,065. 5.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Consolidated Portfolio Review Corp increased its stake in shares of Stryker by 4.2% in the 2nd quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company’s stock worth $256,000 after acquiring an additional 26 shares during the last quarter. Princeton Global Asset Management LLC boosted its holdings in Stryker by 16.9% in the 2nd quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock valued at $71,000 after purchasing an additional 26 shares during the last quarter. Sunflower Bank N.A. increased its holdings in shares of Stryker by 4.0% during the 2nd quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company’s stock worth $275,000 after buying an additional 27 shares during the last quarter. Pitti Group Wealth Management LLC raised its position in shares of Stryker by 3.2% during the 2nd quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company’s stock valued at $341,000 after buying an additional 27 shares during the period. Finally, Sachetta LLC grew its position in Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 27 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Company Profile

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.