Stryker (NYSE:SYK) PT Lowered to $365.00

Stryker (NYSE:SYK) had its price target reduced by investment analysts at Evercore ISI from $370.00 to $365.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical technology company’s stock. Evercore ISI’s target price would suggest a potential upside of 9.92% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Stifel Nicolaus increased their target price on shares of Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Citigroup lifted their price objective on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Royal Bank of Canada increased their target price on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Roth Mkm boosted their price target on Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Piper Sandler increased their price objective on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $370.32.

Stryker Price Performance

Shares of NYSE SYK opened at $332.07 on Tuesday. The business’s 50 day moving average is $337.55 and its 200-day moving average is $334.50. The firm has a market cap of $126.50 billion, a P/E ratio of 37.91, a price-to-earnings-growth ratio of 2.68 and a beta of 0.89. Stryker has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Stryker had a return on equity of 23.05% 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 last year, the firm earned $2.14 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. Equities research analysts predict that Stryker will post 11.95 earnings per share for the current year.

Institutional Investors Weigh In On Stryker

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Burkett Financial Services LLC bought a new stake in Stryker during the 4th quarter worth approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 61 shares during the last quarter. Rogco LP bought a new stake in Stryker during the 4th quarter worth approximately $30,000. Central Pacific Bank Trust Division bought a new stake in Stryker during the 1st quarter worth approximately $39,000. Finally, DSM Capital Partners LLC bought a new stake in Stryker during the 4th quarter worth approximately $34,000. 77.09% of the stock is owned by institutional investors.

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.