Citigroup Lowers Stryker (NYSE:SYK) Price Target to $385.00

Stryker (NYSE:SYK) had its price objective dropped by equities research analysts at Citigroup from $420.00 to $385.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the medical technology company’s stock. Citigroup’s price objective indicates a potential upside of 15.72% from the company’s previous close.

SYK has been the topic of a number of other reports. Barclays reaffirmed an “overweight” rating and set a $469.00 target price on shares of Stryker in a research report on Monday, February 2nd. Sanford C. Bernstein lifted their target price on Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a research report on Friday, January 9th. Evercore set a $390.00 target price on Stryker in a research report on Monday, January 5th. Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Finally, Needham & Company LLC lifted their target price on Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus target price of $425.56.

Stryker Stock Up 0.1%

Shares of NYSE SYK traded up $0.39 during midday trading on Tuesday, reaching $332.69. 870,848 shares of the company’s stock were exchanged, compared to its average volume of 2,066,303. Stryker has a 52-week low of $319.32 and a 52-week high of $404.87. The stock has a market capitalization of $127.41 billion, a PE ratio of 39.62, a price-to-earnings-growth ratio of 1.94 and a beta of 0.92. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. The business’s fifty day moving average price is $356.60 and its two-hundred day moving average price is $361.44.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same period in the previous year, the company earned $4.01 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Analysts forecast that Stryker will post 13.47 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Stryker

Several hedge funds and other institutional investors have recently bought and sold shares of SYK. Brighton Jones LLC increased its holdings in Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after buying an additional 609 shares during the last quarter. Schnieders Capital Management LLC. acquired a new position in Stryker in the second quarter valued at approximately $205,000. Guggenheim Capital LLC boosted its stake in Stryker by 2.5% in the second quarter. Guggenheim Capital LLC now owns 6,180 shares of the medical technology company’s stock valued at $2,445,000 after acquiring an additional 152 shares during the period. Marshall Wace LLP boosted its stake in Stryker by 107.9% in the second quarter. Marshall Wace LLP now owns 5,700 shares of the medical technology company’s stock valued at $2,255,000 after acquiring an additional 77,831 shares during the period. Finally, Gamco Investors INC. ET AL boosted its stake in Stryker by 2.1% in the second quarter. Gamco Investors INC. ET AL now owns 22,175 shares of the medical technology company’s stock valued at $8,773,000 after acquiring an additional 451 shares during the period. 77.09% of the stock is owned by institutional investors.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.