Stryker (NYSE:SYK) has been given a $170.00 price target by research analysts at Oppenheimer in a report issued on Friday. The brokerage presently has a “hold” rating on the medical technology company’s stock. Oppenheimer’s target price suggests a potential downside of 0.73% from the stock’s previous close.
Other analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Stryker from a “hold” rating to a “buy” rating and set a $186.00 price target for the company in a research report on Tuesday, August 7th. Canaccord Genuity restated a “buy” rating and issued a $185.00 price target on shares of Stryker in a research report on Wednesday, July 25th. Royal Bank of Canada restated a “buy” rating and issued a $184.00 price target on shares of Stryker in a research report on Wednesday, July 25th. BTIG Research initiated coverage on Stryker in a research report on Thursday, August 16th. They issued a “buy” rating and a $187.00 price target for the company. Finally, Cowen set a $195.00 price target on Stryker and gave the stock a “buy” rating in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Stryker has a consensus rating of “Buy” and an average price target of $181.81.
Shares of SYK opened at $171.25 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.91 and a quick ratio of 1.21. The stock has a market capitalization of $64.09 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 2.36 and a beta of 0.64. Stryker has a 52 week low of $146.80 and a 52 week high of $179.84.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 25th. The medical technology company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.01. The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Stryker had a return on equity of 28.00% and a net margin of 9.31%. As a group, research analysts anticipate that Stryker will post 7.28 earnings per share for the current fiscal year.
In related news, CFO Glenn S. Boehnlein sold 750 shares of the stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $178.17, for a total transaction of $133,627.50. Following the completion of the sale, the chief financial officer now owns 2,785 shares in the company, valued at $496,203.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP M Kathryn Fink sold 415 shares of the stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $166.56, for a total value of $69,122.40. The disclosure for this sale can be found here. Insiders have sold 39,031 shares of company stock valued at $6,520,313 in the last quarter. 7.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in SYK. Fisher Asset Management LLC bought a new position in Stryker during the second quarter valued at approximately $295,000. Xact Kapitalforvaltning AB boosted its stake in Stryker by 2.0% during the second quarter. Xact Kapitalforvaltning AB now owns 62,032 shares of the medical technology company’s stock valued at $10,475,000 after buying an additional 1,246 shares during the last quarter. Daiwa SB Investments Ltd. boosted its stake in Stryker by 35.5% during the second quarter. Daiwa SB Investments Ltd. now owns 1,640 shares of the medical technology company’s stock valued at $277,000 after buying an additional 430 shares during the last quarter. CX Institutional bought a new position in Stryker during the second quarter valued at approximately $133,000. Finally, Addenda Capital Inc. boosted its stake in Stryker by 91.5% during the second quarter. Addenda Capital Inc. now owns 53,509 shares of the medical technology company’s stock valued at $8,835,000 after buying an additional 25,563 shares during the last quarter. 74.71% of the stock is owned by institutional investors.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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