Stryker (NYSE:SYK) Price Target Raised to $406.00

Stryker (NYSE:SYKGet Free Report) had its target price boosted by analysts at Citigroup from $362.00 to $406.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the medical technology company’s stock. Citigroup’s price target would indicate a potential upside of 15.24% from the stock’s current price.

Several other analysts have also recently commented on SYK. Truist Financial raised their price target on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Wells Fargo & Company upped their target price on shares of Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Royal Bank of Canada restated an “outperform” rating and issued a $360.00 price objective on shares of Stryker in a research note on Thursday, February 15th. Finally, Roth Mkm increased their price objective on shares of Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $333.62.

Get Our Latest Stock Analysis on SYK

Stryker Trading Up 0.8 %

Shares of SYK traded up $2.94 during midday trading on Wednesday, hitting $352.32. The stock had a trading volume of 278,481 shares, compared to its average volume of 1,293,516. Stryker has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The business has a 50-day simple moving average of $346.71 and a two-hundred day simple moving average of $307.34. The firm has a market cap of $134.05 billion, a P/E ratio of 42.72, a price-to-earnings-growth ratio of 2.89 and a beta of 0.89. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYKGet Free Report) last announced its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping the consensus estimate of $3.27 by $0.19. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. During the same period last year, the company posted $3.00 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities analysts forecast that Stryker will post 11.86 EPS for the current year.

Insider Activity at Stryker

In related news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the sale, the director now directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now owns 14,242 shares in the company, valued at $4,856,522. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock worth $72,845,768 in the last ninety days. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Several hedge funds have recently bought and sold shares of SYK. Burkett Financial Services LLC bought a new position in shares of Stryker during the 4th quarter worth approximately $25,000. Freedom Wealth Alliance LLC bought a new position in shares of Stryker during the 4th quarter worth approximately $26,000. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 61 shares in the last quarter. Quarry LP bought a new position in shares of Stryker during the 1st quarter worth approximately $27,000. Finally, Rise Advisors LLC grew its stake in shares of Stryker by 692.9% in the third quarter. Rise Advisors LLC now owns 111 shares of the medical technology company’s stock valued at $30,000 after buying an additional 97 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Stryker (NYSE:SYK)

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