Stryker (NYSE:SYK) Hits New 52-Week High – Still a Buy?

by · The Cerbat Gem

Shares of Stryker Co. (NYSE:SYK – Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $376.04 and last traded at $374.28, with a volume of 37969 shares traded. The stock had previously closed at $369.86.

Analyst Ratings Changes

SYK has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Stifel Nicolaus lowered their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Truist Financial raised their price target on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. UBS Group lifted their price target on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $393.65.

View Our Latest Stock Analysis on SYK

Stryker Trading Up 1.7 %

The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $143.32 billion, a price-to-earnings ratio of 40.30, a P/E/G ratio of 2.78 and a beta of 0.91. The company has a fifty day moving average of $361.46 and a two-hundred day moving average of $345.63.

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

Insider Transactions at Stryker

In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 67,381 shares of company stock valued at $24,825,275. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Several institutional investors and hedge funds have recently made changes to their positions in the business. Centennial Bank AR lifted its holdings 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 valued at $32,000 after purchasing an additional 48 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Stryker during the 1st quarter worth approximately $39,000. HBW Advisory Services LLC purchased a new stake in Stryker in the 3rd quarter valued at approximately $42,000. Hara Capital LLC acquired a new stake in Stryker during the 3rd quarter valued at $42,000. Finally, Grove Bank & Trust increased its position in Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after buying an additional 56 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

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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