Stryker (NYSE:SYK) Stock Rating Upgraded by StockNews.com

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

A number of other research firms have also recently commented on SYK. JPMorgan Chase & Co. lifted their target price on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Truist Financial lifted their target price on 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 Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Evercore ISI lifted their target price on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Barclays boosted their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Stryker Stock Up 1.7 %

Stryker stock traded up $6.34 during midday trading on Thursday, reaching $389.62. The company’s stock had a trading volume of 1,507,919 shares, compared to its average volume of 1,260,531. Stryker has a fifty-two week low of $282.35 and a fifty-two week high of $392.70. 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 company has a market cap of $148.53 billion, a P/E ratio of 41.26, a P/E/G ratio of 2.93 and a beta of 0.91. The business has a 50-day simple moving average of $363.45 and a 200-day simple moving average of $346.97.

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

Insider Buying and Selling

In related 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 transaction of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. This trade represents a 42.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,381 shares of company stock worth $24,825,275 in the last ninety days. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC grew its stake in Stryker by 5.0% in the first quarter. Lord Abbett & CO. LLC now owns 821 shares of the medical technology company’s stock worth $294,000 after purchasing an additional 39 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Stryker by 10.7% during the first quarter. Orion Portfolio Solutions LLC now owns 14,202 shares of the medical technology company’s stock valued at $5,082,000 after buying an additional 1,372 shares during the last quarter. Nwam LLC boosted its position in Stryker by 2.1% during the 1st quarter. Nwam LLC now owns 2,214 shares of the medical technology company’s stock worth $740,000 after acquiring an additional 46 shares during the period. Motco grew its position in Stryker by 120.4% in the 1st quarter. Motco now owns 1,827 shares of the medical technology company’s stock valued at $654,000 after buying an additional 998 shares in the last quarter. Finally, Tocqueville Asset Management L.P. increased its stake in shares of Stryker by 6.2% during the first quarter. Tocqueville Asset Management L.P. now owns 2,222 shares of the medical technology company’s stock valued at $795,000 after acquiring an additional 130 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

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.