Stryker (NYSE:SYK) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Stryker (NYSE:SYK) from a hold rating to a buy rating in a research note released on Thursday.

Several other equities analysts have also recently weighed in on the company. Barclays raised their price objective on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Truist Financial upped their price objective on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Robert W. Baird lifted their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI increased their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Up 1.8 %

Shares of NYSE SYK opened at $390.08 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The company has a 50-day moving average price of $364.07 and a 200-day moving average price of $347.54. The stock has a market capitalization of $148.70 billion, a P/E ratio of 41.81, a P/E/G ratio of 2.94 and a beta of 0.91. Stryker has a 1 year low of $282.35 and a 1 year high of $392.70.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 EPS. On average, equities research analysts forecast that Stryker will post 12.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This trade represents a 42.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,381 shares of company stock valued at $24,825,275. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Institutional investors and hedge funds have recently bought and sold shares of the company. Parnassus Investments LLC purchased a new stake in shares of Stryker in the third quarter worth $762,798,000. International Assets Investment Management LLC raised its holdings in shares of Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after acquiring an additional 852,496 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after acquiring an additional 813,311 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Stryker by 146.9% during the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after purchasing an additional 522,817 shares in the last quarter. Finally, RTW Investments LP bought a new position in shares of Stryker in the third quarter worth approximately $143,392,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

About Stryker

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.