Piper Sandler Raises Stryker (NYSE:SYK) Price Target to $380.00

Stryker (NYSE:SYK) had its price target increased by research analysts at Piper Sandler from $375.00 to $380.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical technology company’s stock. Piper Sandler’s target price indicates a potential upside of 18.19% from the company’s previous close.

Several other research firms have also recently issued reports on SYK. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price on the stock in a research report on Wednesday, January 31st. Roth Mkm boosted their price target on Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Evercore ISI upped their price target on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Truist Financial lifted their price objective on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada increased their target price on shares of Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average target price of $350.95.

Stryker Price Performance

SYK stock traded down $14.99 on Wednesday, reaching $321.51. The company had a trading volume of 908,160 shares, compared to its average volume of 1,295,091. Stryker has a 1 year low of $249.98 and a 1 year high of $361.41. The company has a market cap of $122.32 billion, a P/E ratio of 39.02, a PEG ratio of 2.73 and a beta of 0.89. The company’s fifty day moving average is $348.44 and its 200 day moving average is $316.70. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $2.14 EPS. On average, research analysts forecast that Stryker will post 11.86 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the sale, the director now owns 14,242 shares in the company, valued at $4,856,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The disclosure for this sale can be found here. Over the last three months, insiders have sold 212,109 shares of company stock worth $72,845,768. 5.50% of the stock is owned by company insiders.

Institutional Trading of Stryker

Several large investors have recently modified their holdings of SYK. Harbor Investment Advisory LLC increased its position in Stryker by 0.4% during the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock valued at $2,499,000 after acquiring an additional 31 shares during the last quarter. Aspen Investment Management Inc raised its holdings in Stryker by 0.7% in the 1st quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock worth $1,563,000 after purchasing an additional 31 shares during the period. Bremer Bank National Association lifted its position in Stryker by 4.0% during the fourth quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock valued at $266,000 after purchasing an additional 34 shares in the last quarter. Simon Quick Advisors LLC grew its holdings in Stryker by 3.0% during the fourth quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock valued at $347,000 after purchasing an additional 34 shares during the period. Finally, Consolidated Portfolio Review Corp increased its position in Stryker by 3.6% in the fourth quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock worth $294,000 after buying an additional 34 shares in the last quarter. 77.09% of the stock is owned by 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.