Stryker (NYSE:SYK) Stock Rating Upgraded by Morgan Stanley

Stryker (NYSE:SYK) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, MarketBeat reports. The brokerage currently has a $445.00 price objective on the medical technology company’s stock, up from their previous price objective of $370.00. Morgan Stanley’s target price suggests a potential upside of 13.82% from the company’s previous close.

A number of other brokerages also recently commented on SYK. Royal Bank of Canada boosted their price objective on shares of Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Canaccord Genuity Group raised their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird increased their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average target price of $398.40.

Stryker Stock Up 0.3 %

Shares of SYK stock opened at $390.97 on Monday. The company has a market capitalization of $149.05 billion, a price-to-earnings ratio of 41.90, a P/E/G ratio of 2.94 and a beta of 0.94. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker has a 12-month low of $285.79 and a 12-month high of $398.20. The firm has a fifty day moving average of $369.58 and a 200-day moving average of $352.53.

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

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,781 shares of company stock valued at $24,612,275 in the last ninety days. 5.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Stryker

Hedge funds have recently made changes to their positions in the stock. Dunhill Financial LLC lifted its stake in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares in the last quarter. Centennial Bank AR raised its position in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in Stryker during the third quarter valued at $36,000. Hara Capital LLC purchased a new position in Stryker during the third quarter worth about $42,000. Finally, HBW Advisory Services LLC bought a new position in Stryker in the 3rd quarter worth about $42,000. 77.09% of the stock is currently 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.