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.
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.
TRADEMARK VIOLATION NOTICE: “Piper Jaffray Companies Increases Stryker (SYK) Price Target to $166.00” was published by BBNS and is the property of of BBNS. If you are accessing this piece on another website, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The original version of this piece can be viewed at https://baseballnewssource.com/markets/piper-jaffray-companies-raises-stryker-syk-price-target-to-166-00/1821417.html.
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.
Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.