Stryker (SYK) Price Target Raised to $211.00 at Barclays

Stryker (NYSE:SYK) had its target price upped by research analysts at Barclays from $203.00 to $211.00 in a report released on Monday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the medical technology company’s stock. Barclays‘s price target would indicate a potential upside of 11.62% from the company’s current price.

SYK has been the subject of several other reports. Canaccord Genuity increased their price target on shares of Stryker from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, January 30th. Zacks Investment Research upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $199.00 price objective on the stock in a report on Monday, February 4th. Morgan Stanley cut their price objective on shares of Stryker from $212.00 to $197.00 and set an “overweight” rating on the stock in a report on Wednesday, January 2nd. Royal Bank of Canada upped their price objective on shares of Stryker from $184.00 to $204.00 and gave the company an “outperform” rating in a report on Monday, March 11th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Stryker in a report on Friday, January 18th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Stryker presently has an average rating of “Buy” and a consensus target price of $192.13.

SYK stock opened at $189.04 on Monday. The stock has a market cap of $71.89 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 2.37 and a beta of 0.88. Stryker has a one year low of $144.75 and a one year high of $199.85. The company has a quick ratio of 1.41, a current ratio of 2.02 and a debt-to-equity ratio of 0.72.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 29th. The medical technology company reported $2.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.15 by $0.03. The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.73 billion. Stryker had a net margin of 26.12% and a return on equity of 27.60%. Analysts predict that Stryker will post 8.13 earnings per share for the current year.

In related news, Chairman Kevin Lobo sold 41,750 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $194.11, for a total value of $8,104,092.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP M Kathryn Fink sold 180 shares of the stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $176.77, for a total transaction of $31,818.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,789 shares of company stock worth $23,825,554. 7.20% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of SYK. Oregon Public Employees Retirement Fund increased its holdings in Stryker by 8,029.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,075,473 shares of the medical technology company’s stock worth $39,000 after buying an additional 6,000,739 shares during the period. Norges Bank acquired a new position in Stryker in the 4th quarter worth approximately $474,132,000. BlackRock Inc. increased its holdings in Stryker by 4.1% in the 4th quarter. BlackRock Inc. now owns 24,882,912 shares of the medical technology company’s stock worth $3,900,399,000 after buying an additional 975,678 shares during the period. GQG Partners LLC acquired a new position in Stryker in the 4th quarter worth approximately $116,175,000. Finally, FMR LLC increased its holdings in Stryker by 6.3% in the 4th quarter. FMR LLC now owns 5,934,622 shares of the medical technology company’s stock worth $930,251,000 after buying an additional 353,028 shares during the period. Institutional investors own 74.61% of the company’s stock.

Stryker Company Profile

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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