Stryker (NYSE:SYK) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Stryker (NYSE:SYK) had its price objective reduced by analysts at JPMorgan Chase & Co. from $350.00 to $340.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the medical technology company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 16.61% from the company’s previous close.

SYK has been the subject of several other reports. Needham & Company LLC dropped their price target on Stryker from $418.00 to $359.00 and set a “buy” rating for the company in a report on Friday. Wolfe Research lowered Stryker from an “outperform” rating to a “peer perform” rating in a report on Thursday, August 13th. Canaccord Genuity Group cut Stryker from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $385.00 to $300.00 in a research report on Friday. Sanford C. Bernstein reissued a “market perform” rating on shares of Stryker in a research report on Wednesday, October 7th. Finally, Johnson Rice lowered shares of Stryker to a “hold” rating in a research report on Friday. Sixteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $355.44.

Stryker Stock Performance

Shares of SYK stock opened at $291.56 on Friday. Stryker has a 52 week low of $267.00 and a 52 week high of $389.33. The company has a market capitalization of $111.83 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 1.89 and a beta of 0.78. The company has a 50-day simple moving average of $292.83 and a 200 day simple moving average of $324.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 2.18.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, October 29th. The medical technology company reported $3.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.55 by ($0.03). Stryker had a return on equity of 23.74% and a net margin of 13.78%. The company had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter last year, the business earned $3.19 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts predict that Stryker will post 14.85 earnings per share for the current year.

Insider Activity at Stryker

In other Stryker news, insider Debra King sold 826 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 6,210 shares in the company, valued at $2,088,423. This trade represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Dylan Crotty sold 441 shares of the business’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 sale, the insider directly owned 6,102 shares in the company, valued at approximately $2,005,178.22. The trade was a 6.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 351,267 shares of company stock valued at $118,197,701 in the last quarter. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Stryker

Institutional investors and hedge funds have recently bought and sold shares of the company. Gables Capital Management Inc. acquired a new stake in shares of Stryker during the second quarter valued at about $25,000. Kilter Group LLC acquired a new position in shares of Stryker in the second quarter valued at approximately $25,000. Cornerstone Financial Management LLC increased its stake in shares of Stryker by 66.0% in the second quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock valued at $25,000 after buying an additional 31 shares during the period. Highland Investment Advisors LLC bought a new position in Stryker in the 2nd quarter valued at approximately $25,000. Finally, Compass Financial Management LLC bought a new position in Stryker in the 2nd quarter valued at approximately $27,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

About Stryker

Stryker Corporation (NYSE: SYK) is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company’s product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.