Stryker (NYSE:SYK) Stock Price Expected to Rise, Citigroup Analyst Says

by · The Cerbat Gem

Stryker (NYSE:SYK – Get Free Report) had its price target increased by research analysts at Citigroup from $406.00 to $411.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the medical technology company’s stock. Citigroup’s price target indicates a potential upside of 15.36% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Piper Sandler restated an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday. Stifel Nicolaus lowered their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. UBS Group raised their price target on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, BTIG Research lifted their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Read Our Latest Report on SYK

Stryker Price Performance

SYK traded down $7.15 during trading on Thursday, reaching $356.28. 1,376,650 shares of the company traded hands, compared to its average volume of 1,256,141. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. Stryker has a 12-month low of $264.85 and a 12-month high of $374.63. The firm has a fifty day simple moving average of $359.79 and a 200 day simple moving average of $343.98. The company has a market cap of $135.72 billion, a P/E ratio of 40.67, a PEG ratio of 2.73 and a beta of 0.91.

Stryker (NYSE:SYK – Get Free Report) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.78 by $0.09. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the firm posted $2.46 earnings per share. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities analysts forecast that Stryker will post 12 EPS for the current year.

Insider Buying and Selling at Stryker

In other Stryker news, 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 transaction of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at $3,715,540. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock worth $71,811,372 over the last quarter. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Patrick M Sweeney & Associates Inc. increased its holdings in Stryker by 1.5% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock worth $793,000 after buying an additional 32 shares during the period. Proficio Capital Partners LLC increased its holdings in Stryker by 2.4% in the 1st quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after buying an additional 33 shares during the period. Versant Capital Management Inc increased its holdings in Stryker by 4.0% in the 2nd 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 during the period. Stanley Laman Group Ltd. increased its holdings in Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after buying an additional 33 shares during the period. Finally, Plimoth Trust Co. LLC increased its holdings in Stryker by 0.3% in the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after buying an additional 33 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Company Profile

(Get Free Report)

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.

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