Stryker (NYSE:SYK) PT Raised to $405.00 at Roth Mkm

Stryker (NYSE:SYK) had its price objective boosted by Roth Mkm from $348.00 to $405.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the medical technology company’s stock. Roth Mkm’s price target would suggest a potential upside of 24.47% from the stock’s current price.

SYK has been the topic of a number of other research reports. Piper Sandler boosted their price objective on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target on the stock in a report on Wednesday, January 31st. Citigroup upped their price target on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a report on Wednesday. Finally, Wells Fargo & Company upped their price target on shares of Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $356.24.

Stryker Price Performance

SYK stock traded down $11.13 during trading on Wednesday, reaching $325.37. 1,469,576 shares of the company were exchanged, compared to its average volume of 1,302,200. The company has a market cap of $123.79 billion, a P/E ratio of 39.44, a PEG ratio of 2.73 and a beta of 0.89. Stryker has a 52-week low of $249.98 and a 52-week high of $361.41. The stock’s 50 day moving average price is $348.44 and its 200 day moving average price 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 data on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.14 earnings per share. As a group, analysts predict that Stryker will post 11.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the sale, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Allan C. Golston sold 3,273 shares of the stock in a transaction on Friday, February 2nd. The stock was 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 directly owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The disclosure for this sale can be found here. Over the last quarter, insiders sold 212,109 shares of company stock valued at $72,845,768. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Stryker

Several large investors have recently made changes to their positions in SYK. Brookstone Capital Management increased its position in shares of Stryker by 6.9% in the third quarter. Brookstone Capital Management now owns 8,022 shares of the medical technology company’s stock worth $2,153,000 after acquiring an additional 521 shares in the last quarter. Accurate Wealth Management LLC boosted its stake in shares of Stryker by 10.4% in the third quarter. Accurate Wealth Management LLC now owns 815 shares of the medical technology company’s stock valued at $218,000 after purchasing an additional 77 shares during the period. Kingswood Wealth Advisors LLC boosted its stake in shares of Stryker by 28.4% in the third quarter. Kingswood Wealth Advisors LLC now owns 904 shares of the medical technology company’s stock valued at $247,000 after purchasing an additional 200 shares during the period. Tectonic Advisors LLC boosted its stake in shares of Stryker by 5.0% in the third quarter. Tectonic Advisors LLC now owns 2,153 shares of the medical technology company’s stock valued at $588,000 after purchasing an additional 102 shares during the period. Finally, Raymond James & Associates boosted its stake in shares of Stryker by 1.6% in the third quarter. Raymond James & Associates now owns 563,217 shares of the medical technology company’s stock valued at $153,910,000 after purchasing an additional 9,005 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.