Barclays Increases Stryker (NYSE:SYK) Price Target to $376.00

Stryker (NYSE:SYK) had its price target raised by stock analysts at Barclays from $372.00 to $376.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the medical technology company’s stock. Barclays‘s price objective would suggest a potential upside of 15.22% from the stock’s previous close.

Other analysts have also issued research reports about the company. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and increased their target price for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Royal Bank of Canada increased their target price on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Piper Sandler increased their target price on Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday. Roth Mkm increased their target price on Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday. Finally, UBS Group increased their target price on Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $359.00.

Stryker Price Performance

Shares of NYSE:SYK traded down $1.80 on Thursday, reaching $326.32. 1,245,493 shares of the company traded hands, compared to its average volume of 1,317,398. Stryker has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The company’s 50 day moving average is $348.05 and its 200-day moving average is $316.78. The stock has a market capitalization of $124.15 billion, a PE ratio of 37.27, a P/E/G ratio of 2.71 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Stryker had a return on equity of 23.44% and a net margin of 16.03%. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the prior year, the firm earned $2.14 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, analysts anticipate that Stryker will post 11.86 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the sale, the director now directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the sale, the director now directly owns 14,242 shares in the company, valued at $4,856,522. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 212,109 shares of company stock valued at $72,845,768. 5.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Stryker

Hedge funds and other institutional investors have recently made changes to their positions in the business. Burkett Financial Services LLC acquired a new stake in Stryker during the fourth quarter worth about $25,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position in Stryker by 203.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after buying an additional 61 shares in the last quarter. Rogco LP acquired a new stake in Stryker during the fourth quarter worth about $30,000. DSM Capital Partners LLC acquired a new stake in Stryker during the fourth quarter worth about $34,000. Finally, HBC Financial Services PLLC acquired a new stake in Stryker during the fourth quarter worth about $37,000. 77.09% of the stock is owned by institutional investors and hedge funds.

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.