StockNews.com Upgrades Stryker (NYSE:SYK) to Buy

Stryker (NYSE:SYK) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Other research analysts have also recently issued research reports about the company. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Needham & Company LLC increased their price objective on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $370.00 to $445.00 in a report on Monday, December 2nd. BTIG Research raised their price target on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird lifted their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $402.70.

Stryker Stock Performance

Shares of Stryker stock traded down $6.78 during mid-day trading on Wednesday, hitting $375.90. 1,213,982 shares of the stock were exchanged, compared to its average volume of 1,261,801. The company has a 50-day simple moving average of $372.00 and a 200 day simple moving average of $354.36. Stryker has a 12 month low of $285.79 and a 12 month high of $398.20. The company has a market capitalization of $143.30 billion, a P/E ratio of 40.29, a P/E/G ratio of 2.90 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the firm posted $2.46 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. Sell-side analysts anticipate that Stryker will post 12.06 earnings per share for the current fiscal year.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This represents a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,781 shares of company stock valued at $24,612,275. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Stryker

Large investors have recently added to or reduced their stakes in the company. Dunhill Financial LLC lifted its position in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the period. Centennial Bank AR increased its holdings in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Stryker during the 3rd quarter worth approximately $36,000. HBW Advisory Services LLC bought a new position in Stryker in the 3rd quarter valued at about $42,000. Finally, Hara Capital LLC purchased a new position in Stryker during the third quarter worth about $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

About Stryker

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.