Needham & Company LLC Reiterates Buy Rating for Stryker (NYSE:SYK)

Stryker (NYSE:SYK)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They currently have a $442.00 target price on the medical technology company’s stock. Needham & Company LLC’s target price points to a potential upside of 11.92% from the stock’s current price.

SYK has been the subject of a number of other reports. UBS Group lifted their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Canaccord Genuity Group raised their price objective on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday. JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $407.55.

Stryker Price Performance

NYSE:SYK opened at $394.92 on Wednesday. The company has a market capitalization of $150.55 billion, a price-to-earnings ratio of 42.33, a PEG ratio of 2.68 and a beta of 0.95. The company has a 50-day moving average of $376.44 and a 200-day moving average of $361.98. Stryker has a 52 week low of $310.74 and a 52 week high of $406.19. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.07% and a net margin of 16.34%. During the same quarter in the prior year, the business earned $3.46 EPS. As a group, equities research analysts anticipate that Stryker will post 12.06 earnings per share for the current fiscal year.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was 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 of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Stryker

A number of large investors have recently bought and sold shares of the business. Dunhill Financial LLC boosted its holdings in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the period. Centennial Bank AR boosted its stake in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC bought a new position in Stryker during the 3rd quarter worth about $36,000. Activest Wealth Management acquired a new stake in shares of Stryker in the 4th quarter valued at about $36,000. Finally, Crews Bank & Trust acquired a new position in shares of Stryker during the fourth quarter worth about $39,000. 77.09% of the stock is owned by institutional investors.

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.