Stryker Corporation (NYSE:SYK) Stock Has Consensus Price Target of $355.04

Stryker Corporation (NYSE:SYK) has been assigned a consensus rating of “Moderate Buy” from the twenty-eight analysts that are currently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $342.19.

Several research analysts recently commented on SYK shares. UBS Group reduced their target price on Stryker from $400.00 to $382.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Wolfe Research lowered shares of Stryker from an “outperform” rating to a “peer perform” rating in a report on Thursday, August 13th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Stryker in a research note on Wednesday, October 7th. Stifel Nicolaus reduced their target price on Stryker from $330.00 to $325.00 and set a “buy” rating on the stock in a report on Monday, November 2nd. Finally, Truist Financial restated a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Stryker in a research report on Monday, November 2nd.

Stryker Trading Down 0.5%

NYSE:SYK opened at $324.00 on Wednesday. The company has a market capitalization of $123.34 billion, a P/E ratio of 34.50, a P/E/G ratio of 2.24 and a beta of 0.78. The stock’s 50 day moving average price is $292.25 and its 200 day moving average price is $323.23. 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 has a 52 week low of $267.00 and a 52 week high of $389.33.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, October 29th. The medical technology company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.55 by ($0.03). The company had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.62 billion. Stryker had a return on equity of 23.74% and a net margin of 13.78%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.19 earnings per share. On average, research analysts forecast that Stryker will post 14.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other Stryker news, insider Debra King sold 826 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total value of $277,783.80. Following the transaction, the insider owned 6,210 shares of the company’s stock, valued at approximately $2,088,423. The trade was a 11.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dylan Crotty sold 441 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $328.61, for a total value of $144,917.01. Following the completion of the sale, the insider owned 6,102 shares of the company’s stock, valued at approximately $2,005,178.22. This trade represents a 6.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 901,267 shares of company stock valued at $297,123,701. 4.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Stryker

A number of institutional investors and hedge funds have recently made changes to their positions in SYK. Gables Capital Management Inc. acquired a new stake in Stryker during the 2nd quarter worth $25,000. Kilter Group LLC acquired a new stake in shares of Stryker during the second quarter worth about $25,000. Highland Investment Advisors LLC bought a new position in Stryker in the second quarter valued at approximately $25,000. Cornerstone Financial Management LLC lifted its position in Stryker by 66.0% in the 2nd quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock valued at $25,000 after acquiring an additional 31 shares in the last quarter. Finally, Compass Financial Management LLC bought a new stake in shares of Stryker in the second quarter valued at about $27,000. Institutional investors own 77.09% of the company’s stock.

About Stryker

Stryker is a medical technology company that develops and sells products and services for healthcare providers. Its offerings include orthopedic implants and surgical equipment, neurotechnology and spine products, and medical and surgical equipment used in hospitals and other care settings. The company’s products also include patient-handling and emergency medical equipment, as well as instruments and technologies that support surgical procedures. Stryker serves healthcare customers in the United States and internationally.