Stryker (NYSE:SYK) Price Target Cut to $336.00 by Analysts at Rothschild & Co Redburn

Stryker (NYSE:SYK) had its target price cut by Rothschild & Co Redburn from $360.00 to $336.00 in a research note released on Monday morning.

A number of other brokerages have also commented on SYK. Citigroup restated a “market outperform” rating on shares of Stryker in a research note on Friday, October 30th. Evercore set a $350.00 price objective on shares of Stryker in a report on Monday, July 6th. JPMorgan Chase & Co. decreased their target price on shares of Stryker from $350.00 to $340.00 and set an “overweight” rating for the company in a research report on Friday, October 30th. Sanford C. Bernstein restated a “market perform” rating on shares of Stryker in a report on Wednesday, October 7th. Finally, Barclays dropped their price target on shares of Stryker from $375.00 to $365.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th. Twenty-one analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $343.73.

Stryker Trading Up 8.8%

SYK stock traded up $27.43 during mid-day trading on Monday, reaching $337.98. The company’s stock had a trading volume of 2,445,869 shares, compared to its average volume of 2,478,378. The company has a current ratio of 2.18, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. Stryker has a 12 month low of $267.00 and a 12 month high of $389.33. The business’s 50 day moving average price is $292.03 and its 200 day moving average price is $324.02. The company has a market cap of $128.66 billion, a price-to-earnings ratio of 35.92, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, October 29th. The medical technology company reported $3.52 EPS for the quarter, missing analysts’ consensus estimates of $3.55 by ($0.03). The company had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.62 billion. Stryker had a return on equity of 23.74% and a net margin of 13.78%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.19 earnings per share. On average, equities research analysts predict that Stryker will post 14.85 EPS for the current year.

Insiders Place Their Bets

In other news, insider Debra King sold 826 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total value of $277,783.80. Following the completion of the sale, the insider owned 6,210 shares in the company, valued at $2,088,423. This represents a 11.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Dylan Crotty sold 441 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $328.61, for a total transaction of $144,917.01. Following the completion of the sale, the insider owned 6,102 shares of the company’s stock, valued at approximately $2,005,178.22. This represents a 6.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 351,267 shares of company stock valued at $118,197,701 in the last three months. 4.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Stryker

Hedge funds have recently modified their holdings of the company. State Street Corp boosted its stake in Stryker by 1.2% during the second quarter. State Street Corp now owns 15,532,565 shares of the medical technology company’s stock worth $4,903,772,000 after buying an additional 183,400 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Stryker by 0.6% during the 2nd quarter. Wellington Management Group LLP now owns 8,167,185 shares of the medical technology company’s stock worth $2,571,357,000 after acquiring an additional 45,478 shares during the period. Bank of America Corp DE purchased a new position in shares of Stryker during the 2nd quarter worth $1,404,284,000. Royal Bank of Canada boosted its position in shares of Stryker by 6.5% during the 1st quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company’s stock valued at $1,075,552,000 after acquiring an additional 199,863 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Stryker by 21.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,689,376 shares of the medical technology company’s stock valued at $846,723,000 after acquiring an additional 481,175 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

About Stryker

Stryker Corporation (NYSE: SYK) is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company’s product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.