Stryker (NYSE:SYK) Stock Price Target Lowered at JPMorgan Chase & Co.

Stryker (NYSE:SYK) had its price objective lowered by JPMorgan Chase & Co. from $350.00 to $340.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the medical technology company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 16.61% from the company’s previous close.

Several other research analysts have also issued reports on SYK. Wolfe Research lowered shares of Stryker from an “outperform” rating to a “peer perform” rating in a report on Thursday, August 13th. Truist Financial reduced their price objective on shares of Stryker from $340.00 to $310.00 and set a “hold” rating on the stock in a research note on Tuesday, October 6th. Canaccord Genuity Group cut shares of Stryker from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $385.00 to $300.00 in a research report on Friday. BTIG Research lowered their target price on shares of Stryker from $316.00 to $304.00 and set a “buy” rating for the company in a research note on Friday. Finally, Piper Sandler dropped their target price on shares of Stryker from $420.00 to $390.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Sixteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $355.44.

Stryker Trading Down 0.1%

NYSE SYK opened at $291.56 on Friday. The business’s 50-day moving average price is $292.83 and its two-hundred day moving average price is $324.51. Stryker has a 12 month low of $267.00 and a 12 month high of $389.33. The firm has a market capitalization of $111.83 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 1.89 and a beta of 0.78. 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 (NYSE:SYK) last issued its quarterly earnings data on Thursday, October 29th. The medical technology company reported $3.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.55 by ($0.03). The company had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.62 billion. Stryker had a return on equity of 23.74% and a net margin of 13.78%. Stryker’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.19 earnings per share. On average, analysts expect that Stryker will post 14.85 EPS for the current year.

Insider Activity at Stryker

In related news, insider Dylan Crotty sold 441 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $328.61, for a total transaction of $144,917.01. Following the transaction, the insider directly 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Debra King sold 826 shares of the firm’s stock in a transaction that occurred 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 directly owned 6,210 shares of the company’s stock, valued at $2,088,423. This trade represents a 11.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 351,267 shares of company stock valued at $118,197,701 in the last three months. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Stryker

Institutional investors have recently bought and sold shares of the stock. Gables Capital Management Inc. bought a new position in shares of Stryker during the 2nd quarter worth approximately $25,000. Kilter Group LLC purchased a new position in Stryker in the second quarter worth $25,000. Cornerstone Financial Management LLC grew its stake in Stryker by 66.0% in the 2nd quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock valued at $25,000 after purchasing an additional 31 shares during the period. Highland Investment Advisors LLC bought a new position in Stryker in the 2nd quarter valued at $25,000. Finally, Compass Financial Management LLC purchased a new stake in shares of Stryker during the 2nd quarter valued at $27,000. Institutional investors own 77.09% of the company’s stock.

Stryker Company Profile

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.