Stryker (NYSE:SYK) Given New $400.00 Price Target at Royal Bank of Canada

Stryker (NYSE:SYK) had its target price increased by analysts at Royal Bank of Canada from $386.00 to $400.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical technology company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 11.34% from the company’s previous close.

Several other research analysts have also commented on SYK. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Wells Fargo & Company lifted their target price on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday. BTIG Research increased their price target on Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Needham & Company LLC boosted their price objective on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Stifel Nicolaus cut their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $390.05.

Stryker Stock Up 0.1 %

Shares of SYK stock traded up $0.26 during trading hours on Wednesday, hitting $359.27. 1,129,621 shares of the company were exchanged, compared to its average volume of 1,250,266. The stock has a market capitalization of $136.86 billion, a price-to-earnings ratio of 40.97, a P/E/G ratio of 2.73 and a beta of 0.91. Stryker has a one year low of $264.85 and a one year high of $374.63. The business’s 50-day simple moving average is $359.43 and its two-hundred day simple moving average is $343.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.78 by $0.09. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.46 EPS. Sell-side analysts predict that Stryker will post 12 EPS for the current fiscal year.

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock worth $71,811,372 in the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Stryker

A number of hedge funds have recently modified their holdings of the business. Koshinski Asset Management Inc. purchased a new stake in Stryker in the 1st quarter worth about $795,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Stryker by 43.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after purchasing an additional 5,565 shares during the period. Norden Group LLC purchased a new position in Stryker during the first quarter valued at approximately $4,027,000. BI Asset Management Fondsmaeglerselskab A S increased its stake in Stryker by 38.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after buying an additional 5,502 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Stryker by 78.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after buying an additional 58,673 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Company Profile

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.