Wells Fargo & Company Issues Positive Forecast for Stryker (NYSE:SYK) Stock Price

Stryker (NYSE:SYK) had its target price raised by Wells Fargo & Company from $427.00 to $435.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the medical technology company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 12.35% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. BTIG Research raised their price objective on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citigroup upped their price objective on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Evercore ISI raised their target price on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, JMP Securities reissued a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $412.95.

Stryker Price Performance

SYK traded down $7.98 during midday trading on Wednesday, reaching $387.17. 641,952 shares of the company’s stock were exchanged, compared to its average volume of 1,447,382. Stryker has a 1-year low of $314.05 and a 1-year high of $406.19. The stock has a market capitalization of $147.60 billion, a PE ratio of 41.50, a P/E/G ratio of 2.68 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The business’s 50-day moving average price is $376.44 and its 200 day moving average price is $361.98.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.07% and a net margin of 16.34%. During the same quarter in the previous year, the firm posted $3.46 earnings per share. As a group, equities analysts anticipate that Stryker will post 12.06 EPS for the current fiscal year.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Stryker

Several hedge funds and other institutional investors have recently modified their holdings of SYK. Dunhill Financial LLC increased its holdings in Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the last quarter. Centennial Bank AR grew its position in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Stryker in the 3rd quarter valued at approximately $36,000. Activest Wealth Management bought a new position in Stryker during the fourth quarter worth $36,000. Finally, Crews Bank & Trust acquired a new position in Stryker in the fourth quarter worth $39,000. 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.