Piper Jaffray Companies Increases Stryker (SYK) Price Target to $166.00

Stryker (NYSE:SYK) had its price objective increased by equities research analysts at Piper Jaffray Companies from $156.00 to $166.00 in a research note issued to investors on Tuesday, January 9th, MarketBeat.com reports. The brokerage currently has an “overweight” rating on the medical technology company’s stock. Piper Jaffray Companies’ price objective suggests a potential upside of 4.09% from the company’s previous close.

Several other analysts also recently commented on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $163.00 price objective on shares of Stryker in a research note on Friday, January 5th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $174.00 price objective (up from $166.00) on shares of Stryker in a research note on Tuesday, January 2nd. They noted that the move was a valuation call. JPMorgan Chase & Co. raised Stryker from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 2nd. BMO Capital Markets raised Stryker to a “market perform” rating and set a $163.00 price objective for the company in a research note on Tuesday, December 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a research note on Thursday, December 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $156.60.

Shares of Stryker (NYSE:SYK) traded up $1.24 during midday trading on Tuesday, hitting $159.47. The company had a trading volume of 1,365,005 shares, compared to its average volume of 1,160,000. The firm has a market cap of $59,680.00, a PE ratio of 34.00, a PEG ratio of 2.27 and a beta of 0.78. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.63. Stryker has a 1 year low of $119.17 and a 1 year high of $164.20.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.02. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. Stryker had a return on equity of 24.11% and a net margin of 14.67%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.39 EPS. research analysts forecast that Stryker will post 6.49 EPS for the current year.

In related news, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total value of $776,700.00. Following the completion of the transaction, the insider now directly owns 83,207 shares of the company’s stock, valued at approximately $12,925,375.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Stryker by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 24,078,709 shares of the medical technology company’s stock valued at $3,341,643,000 after purchasing an additional 657,656 shares in the last quarter. BlackRock Inc. grew its holdings in Stryker by 5.2% during the 2nd quarter. BlackRock Inc. now owns 23,115,853 shares of the medical technology company’s stock valued at $3,208,017,000 after buying an additional 1,139,082 shares during the last quarter. Jensen Investment Management Inc. grew its holdings in Stryker by 11.3% during the 3rd quarter. Jensen Investment Management Inc. now owns 2,472,476 shares of the medical technology company’s stock valued at $351,141,000 after buying an additional 251,685 shares during the last quarter. Legal & General Group Plc grew its holdings in Stryker by 2.8% during the 3rd quarter. Legal & General Group Plc now owns 1,805,572 shares of the medical technology company’s stock valued at $256,393,000 after buying an additional 49,143 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Stryker by 4.8% during the 3rd quarter. Wells Fargo & Company MN now owns 1,742,959 shares of the medical technology company’s stock valued at $247,536,000 after buying an additional 79,551 shares during the last quarter. 74.88% of the stock is owned by hedge funds and other institutional investors.

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Stryker Company Profile

Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.

Analyst Recommendations for Stryker (NYSE:SYK)

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