Stryker (NYSE:SYK) Receives Market Perform Rating from JMP Securities

Stryker (NYSE:SYK)‘s stock had its “market perform” rating reiterated by equities researchers at JMP Securities in a report released on Tuesday,Benzinga reports.

Several other analysts also recently commented on SYK. BTIG Research lifted their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $425.00 target price on shares of Stryker in a report on Tuesday. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 target price on shares of Stryker in a report on Tuesday. Finally, Evercore ISI lifted their target price on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average price target of $405.80.

Stryker Stock Up 2.5 %

Stryker stock opened at $364.19 on Tuesday. The firm has a market capitalization of $138.84 billion, a PE ratio of 39.03, a P/E/G ratio of 2.82 and a beta of 0.95. The company’s 50-day moving average is $375.26 and its 200-day moving average is $357.47. Stryker has a fifty-two week low of $298.52 and a fifty-two week high of $398.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

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 the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.46 EPS. Sell-side analysts anticipate that Stryker will post 12.06 earnings per share for the current year.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Stryker

A number of institutional investors have recently modified their holdings of SYK. Dunhill Financial LLC boosted its stake in shares of Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the last quarter. Centennial Bank AR boosted its stake in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Stryker during the third quarter worth $36,000. HBW Advisory Services LLC bought a new position in Stryker during the third quarter worth $42,000. Finally, Hara Capital LLC bought a new position in Stryker during the third quarter worth $42,000. 77.09% of the stock is owned by 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.