Stryker (NYSE:SYK) Given New $411.00 Price Target at Citigroup

Stryker (NYSE:SYK) had its target price hoisted by analysts at Citigroup from $406.00 to $411.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the medical technology company’s stock. Citigroup’s target price would indicate a potential upside of 11.94% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Canaccord Genuity Group upped their price objective on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday. BTIG Research upped their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Robert W. Baird raised their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Up 3.1 %

Stryker stock opened at $367.15 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 1.91. The stock has a market cap of $139.91 billion, a PE ratio of 39.35, a price-to-earnings-growth ratio of 2.79 and a beta of 0.91. The firm’s 50-day simple moving average is $360.18 and its 200 day simple moving average is $344.26. Stryker has a fifty-two week low of $266.93 and a fifty-two week high of $374.63.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.46 earnings per share. Research analysts predict that Stryker will post 12.05 EPS for the current fiscal year.

Insider Activity

In related news, Director Ronda E. Stryker sold 190,000 shares of the company’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 sale, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction that occurred on 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 owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 200,068 shares of company stock worth $65,151,372 over the last three months. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

A number of institutional investors and hedge funds have recently made changes to their positions in SYK. Patrick M Sweeney & Associates Inc. boosted its stake in shares of Stryker by 1.5% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock worth $793,000 after acquiring an additional 32 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in Stryker by 2.4% during the 1st quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after buying an additional 33 shares during the last quarter. Versant Capital Management Inc increased its position in Stryker by 4.0% during the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after buying an additional 33 shares in the last quarter. Stanley Laman Group Ltd. raised its holdings in shares of Stryker by 4.6% in the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after acquiring an additional 33 shares during the last quarter. Finally, Plimoth Trust Co. LLC lifted its position in shares of Stryker by 0.3% in the second quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after acquiring an additional 33 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other 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.