Stryker (NYSE:SYK) Price Target Raised to $405.00 at Robert W. Baird

Stryker (NYSE:SYK) had its price objective hoisted by equities researchers at Robert W. Baird from $378.00 to $405.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the medical technology company’s stock. Robert W. Baird’s price objective suggests a potential upside of 13.67% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Evercore ISI increased their price objective on shares of Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Wolfe Research assumed coverage on shares of Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price on the stock. Needham & Company LLC raised their target price on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. BTIG Research raised their target price on shares of Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Morgan Stanley raised their target price on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Down 2.0 %

SYK stock opened at $356.28 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker has a fifty-two week low of $264.85 and a fifty-two week high of $374.63. The firm’s 50-day simple moving average is $359.90 and its 200 day simple moving average is $344.06. The stock has a market cap of $135.77 billion, a PE ratio of 38.19, a price-to-earnings-growth ratio of 2.79 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.78 by $0.09. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the company earned $2.46 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Stryker will post 12.05 EPS for the current year.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,068 shares of company stock worth $65,151,372 over the last ninety days. 5.90% of the stock is currently owned by company insiders.

Institutional Trading of Stryker

Several institutional investors have recently made changes to their positions in SYK. Norden Group LLC acquired a new stake in shares of Stryker during the first quarter worth approximately $4,027,000. Kovack Advisors Inc. acquired a new stake in shares of Stryker during the first quarter worth approximately $224,000. New Century Financial Group LLC acquired a new stake in shares of Stryker during the first quarter worth approximately $220,000. Maryland State Retirement & Pension System boosted its holdings in shares of Stryker by 0.9% during the first quarter. Maryland State Retirement & Pension System now owns 27,892 shares of the medical technology company’s stock worth $9,347,000 after purchasing an additional 236 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of Stryker by 6.8% during the first quarter. J.W. Cole Advisors Inc. now owns 2,606 shares of the medical technology company’s stock worth $933,000 after purchasing an additional 166 shares during the period. 77.09% of the stock is currently 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.