Piper Sandler Cuts Stryker (NYSE:SYK) Price Target to $290.00

Stryker (NYSE:SYKGet Rating) had its target price lowered by stock analysts at Piper Sandler from $315.00 to $290.00 in a report released on Friday, The Fly reports. Piper Sandler’s price target points to a potential upside of 15.03% from the company’s current price.

Several other equities analysts have also recently commented on the stock. Morgan Stanley lowered their price target on shares of Stryker from $305.00 to $275.00 and set an “equal weight” rating on the stock in a report on Monday, January 31st. SVB Leerink lowered their price target on shares of Stryker from $300.00 to $285.00 and set an “outperform” rating on the stock in a report on Friday, January 28th. Bank of America began coverage on shares of Stryker in a report on Tuesday, March 1st. They set a “buy” rating on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $284.00 price objective on shares of Stryker in a research note on Tuesday, March 15th. Finally, BTIG Research lifted their price objective on shares of Stryker from $273.00 to $278.00 in a research note on Monday, April 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $292.33.

NYSE SYK opened at $252.10 on Friday. The firm’s 50 day moving average price is $261.18 and its two-hundred day moving average price is $260.79. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.47 and a current ratio of 2.20. Stryker has a twelve month low of $236.09 and a twelve month high of $281.16. The stock has a market cap of $95.22 billion, a price-to-earnings ratio of 48.39, a PEG ratio of 3.01 and a beta of 0.98.

Stryker (NYSE:SYKGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The medical technology company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.95 by $0.02. Stryker had a net margin of 11.65% and a return on equity of 24.65%. The business had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same period in the previous year, the company posted $1.93 EPS. Stryker’s revenue was up 8.8% on a year-over-year basis. On average, research analysts forecast that Stryker will post 9.73 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Pinnacle Private Wealth LLC acquired a new position in shares of Stryker during the fourth quarter valued at about $317,000. Captrust Financial Advisors raised its position in shares of Stryker by 16.5% during the third quarter. Captrust Financial Advisors now owns 18,298 shares of the medical technology company’s stock valued at $4,837,000 after buying an additional 2,585 shares during the last quarter. Beese Fulmer Investment Management Inc. raised its position in shares of Stryker by 1.3% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 37,924 shares of the medical technology company’s stock valued at $10,142,000 after buying an additional 492 shares during the last quarter. American International Group Inc. raised its position in shares of Stryker by 0.7% during the third quarter. American International Group Inc. now owns 117,477 shares of the medical technology company’s stock valued at $30,981,000 after buying an additional 791 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Stryker by 29.2% during the fourth quarter. ProShare Advisors LLC now owns 72,996 shares of the medical technology company’s stock valued at $19,521,000 after buying an additional 16,484 shares during the last quarter. 73.61% of the stock is owned by institutional investors and hedge funds.

Stryker Company Profile (Get Rating)

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

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