Canaccord Genuity Group Cuts Stryker (NYSE:SYK) Price Target to $385.00

Stryker (NYSE:SYK) had its target price reduced by equities research analysts at Canaccord Genuity Group from $400.00 to $385.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the medical technology company’s stock. Canaccord Genuity Group’s price target points to a potential upside of 37.32% from the stock’s previous close.

Several other equities research analysts also recently weighed in on SYK. Leerink Partners cut their price target on Stryker from $410.00 to $407.00 and set an “outperform” rating on the stock in a report on Friday, June 5th. Citizens Jmp cut their target price on shares of Stryker from $440.00 to $400.00 and set a “market outperform” rating on the stock in a research note on Monday, August 3rd. Wolfe Research cut shares of Stryker from an “outperform” rating to a “peer perform” rating in a report on Thursday, August 13th. BTIG Research lowered their price target on shares of Stryker from $371.00 to $358.00 and set a “buy” rating for the company in a report on Friday, July 31st. Finally, Piper Sandler dropped their price objective on shares of Stryker from $420.00 to $390.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average price target of $378.12.

Stryker Trading Down 1.5%

NYSE SYK opened at $280.36 on Friday. Stryker has a one year low of $267.00 and a one year high of $392.55. The firm has a 50 day simple moving average of $321.03 and a 200-day simple moving average of $323.18. The firm has a market cap of $107.54 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 1.79 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.33 and a current ratio of 2.16.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 30th. The medical technology company reported $3.69 EPS for the quarter, beating the consensus estimate of $3.49 by $0.20. The company had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.58 billion. Stryker had a net margin of 14.43% and a return on equity of 23.63%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.13 EPS. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Equities research analysts anticipate that Stryker will post 15 EPS for the current fiscal year.

Insider Activity at Stryker

In related news, insider Debra King sold 826 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total value of $277,783.80. Following the completion of the sale, the insider owned 6,210 shares in the company, valued at $2,088,423. This represents a 11.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dylan Crotty sold 441 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $328.61, for a total transaction of $144,917.01. Following the transaction, the insider directly owned 6,102 shares in the company, valued at $2,005,178.22. The trade was a 6.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 351,267 shares of company stock worth $118,197,701 in the last 90 days. 4.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Stryker

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its position in Stryker by 2.1% in the 4th quarter. State Street Corp now owns 15,254,407 shares of the medical technology company’s stock valued at $5,374,731,000 after buying an additional 311,507 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Stryker by 0.6% in the second quarter. Wellington Management Group LLP now owns 8,167,185 shares of the medical technology company’s stock valued at $2,571,357,000 after acquiring an additional 45,478 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Stryker by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 7,535,572 shares of the medical technology company’s stock worth $2,636,238,000 after acquiring an additional 69,851 shares during the period. Norges Bank acquired a new stake in Stryker in the fourth quarter valued at about $1,822,272,000. Finally, Bank of America Corp DE purchased a new stake in Stryker in the 2nd quarter valued at approximately $1,404,284,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

About Stryker

Stryker Corporation is a global medical technology company headquartered in Portage, Michigan. The company develops and manufactures products used by hospitals, physicians and other healthcare providers across a range of medical specialties.

Stryker’s principal businesses include orthopaedics, medical and surgical equipment, and neurovascular products. Its offerings include joint replacement and trauma implants, spinal devices, surgical instruments, operating-room equipment, endoscopy systems, surgical navigation technologies, emergency-care products and devices used to treat neurovascular conditions such as stroke.

Founded in 1941 by Dr.