Evercore ISI Lowers Stryker (NYSE:SYK) Price Target to $390.00

Stryker (NYSE:SYK) had its price objective decreased by investment analysts at Evercore ISI from $400.00 to $390.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the medical technology company’s stock. Evercore ISI’s price target would indicate a potential upside of 3.01% from the stock’s previous close.

Several other equities analysts also recently weighed in on the stock. Stifel Nicolaus raised their target price on shares of Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Barclays raised their price objective on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Citigroup restated a “buy” rating and set a $450.00 price objective on shares of Stryker in a research report on Wednesday, February 26th. The Goldman Sachs Group set a $422.00 target price on Stryker in a report on Tuesday, March 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $442.00 price target on shares of Stryker in a report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $426.53.

Stryker Price Performance

Shares of NYSE:SYK opened at $378.60 on Friday. The firm has a market capitalization of $144.51 billion, a price-to-earnings ratio of 48.79, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The business’s 50 day simple moving average is $366.38 and its 200-day simple moving average is $373.82. Stryker has a 12 month low of $314.93 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the previous year, the business earned $2.50 earnings per share. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts forecast that Stryker will post 13.47 earnings per share for the current fiscal year.

Insider Activity at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the sale, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. The trade was a 14.16 % 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 hyperlink. 5.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Stryker

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Stryker by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock valued at $11,773,213,000 after purchasing an additional 252,188 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Stryker by 0.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company’s stock worth $4,000,056,000 after purchasing an additional 54,693 shares during the period. FMR LLC increased its position in shares of Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock worth $2,892,946,000 after acquiring an additional 727,850 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Stryker by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock valued at $2,539,033,000 after purchasing an additional 168,436 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Stryker in the fourth quarter worth approximately $1,710,744,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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.