Stryker (NYSE:SYK) PT Raised to $405.00 at Roth Mkm

Stryker (NYSE:SYK) had its price target boosted by analysts at Roth Mkm from $348.00 to $405.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the medical technology company’s stock. Roth Mkm’s target price indicates a potential upside of 24.47% from the stock’s previous close.

A number of other brokerages also recently issued reports on SYK. Truist Financial boosted their price target on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a report on Wednesday, January 31st. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and boosted their price target for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Robert W. Baird boosted their price target on Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a report on Wednesday. Citigroup boosted their price target on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target on the stock in a report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and an average price target of $356.24.

Stryker Trading Down 3.3 %

Shares of NYSE SYK traded down $11.13 during midday trading on Wednesday, reaching $325.37. The company had a trading volume of 1,469,576 shares, compared to its average volume of 1,302,200. Stryker has a one year low of $249.98 and a one year high of $361.41. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The firm’s fifty day moving average price is $348.44 and its 200-day moving average price is $316.70. The stock has a market cap of $123.79 billion, a PE ratio of 39.44, a price-to-earnings-growth ratio of 2.73 and a beta of 0.89.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The company had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the previous year, the company posted $2.14 EPS. Stryker’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities research analysts anticipate that Stryker will post 11.86 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Allan C. Golston sold 3,273 shares of the company’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 value of $1,116,093.00. Following the transaction, the director now directly owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. 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 90 days. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Stryker

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Burkett Financial Services LLC bought a new position in Stryker in the 4th quarter valued at approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 61 shares in the last quarter. Rogco LP bought a new position in Stryker in the 4th quarter valued at approximately $30,000. DSM Capital Partners LLC bought a new position in Stryker in the 4th quarter valued at approximately $34,000. Finally, HBC Financial Services PLLC bought a new position in Stryker in the 4th quarter valued at approximately $37,000. 77.09% of the stock is owned by institutional investors.

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.