Barclays Forecasts Strong Price Appreciation for Stryker (NYSE:SYK) Stock

Stryker (NYSE:SYK) had its price objective hoisted by investment analysts at Barclays from $402.00 to $418.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical technology company’s stock. Barclays‘s target price would indicate a potential upside of 13.85% from the stock’s current price.

Other analysts have also issued research reports about the company. BTIG Research upped their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday. Canaccord Genuity Group upped their price objective on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday. Evercore ISI increased their target price on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday. Wolfe Research initiated coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target for the company. Finally, Truist Financial raised their price objective on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note 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, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Performance

Stryker stock opened at $367.15 on Thursday. Stryker has a fifty-two week low of $266.93 and a fifty-two week high of $374.63. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 1.91. The stock has a market cap of $139.96 billion, a P/E ratio of 39.35, a price-to-earnings-growth ratio of 2.69 and a beta of 0.91. The firm’s fifty day moving average price is $360.18 and its 200-day moving average price is $344.26.

Stryker (NYSE:SYK) last released 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 business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter last year, the business posted $2.46 earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities research analysts expect that Stryker will post 12.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Viju Menon sold 600 shares of the 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 completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 200,068 shares of company stock valued at $65,151,372 over the last three months. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Several hedge funds have recently bought and sold shares of the business. Patrick M Sweeney & Associates Inc. lifted its holdings in shares of Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after purchasing an additional 32 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in Stryker by 2.4% in the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after acquiring an additional 33 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Stryker by 4.0% in the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after acquiring an additional 33 shares during the last quarter. Stanley Laman Group Ltd. grew its stake in shares of Stryker by 4.6% in the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after acquiring an additional 33 shares during the last quarter. Finally, Plimoth Trust Co. LLC increased its holdings in shares of Stryker by 0.3% during the second quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after acquiring an additional 33 shares in the last quarter. Institutional investors 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.