Roth Mkm Forecasts Strong Price Appreciation for Stryker (NYSE:SYK) Stock

Stryker (NYSE:SYK) had its price objective lifted by equities researchers at Roth Mkm from $405.00 to $456.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the medical technology company’s stock. Roth Mkm’s price target suggests a potential upside of 20.44% from the stock’s previous close.

A number of other research firms have also issued reports on SYK. Stifel Nicolaus upped their target price on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Truist Financial increased their price objective on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Canaccord Genuity Group boosted their target price on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Argus set a $450.00 price target on shares of Stryker in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $426.53.

Stryker Price Performance

Shares of SYK opened at $378.60 on Friday. The company 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. Stryker has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The firm has a 50-day simple moving average of $366.38 and a 200-day simple moving average of $373.82. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter last year, the firm earned $2.50 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts anticipate that Stryker will post 13.47 earnings per share for the current year.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the transaction, the director now owns 14,895 shares in the company, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Several large investors have recently bought and sold shares of SYK. Saturna Capital Corp grew its holdings in Stryker by 0.3% during the 1st quarter. Saturna Capital Corp now owns 314,441 shares of the medical technology company’s stock worth $117,051,000 after acquiring an additional 1,000 shares during the last quarter. Independent Wealth Network Inc. lifted its holdings in shares of Stryker by 5.0% during the first quarter. Independent Wealth Network Inc. now owns 711 shares of the medical technology company’s stock worth $265,000 after purchasing an additional 34 shares during the period. Burling Wealth Partners LLC grew its stake in shares of Stryker by 26.8% in the first quarter. Burling Wealth Partners LLC now owns 6,806 shares of the medical technology company’s stock worth $2,534,000 after purchasing an additional 1,438 shares during the last quarter. Retirement Planning Co of New England Inc. increased its holdings in Stryker by 1,889.3% in the first quarter. Retirement Planning Co of New England Inc. now owns 15,994 shares of the medical technology company’s stock valued at $5,954,000 after purchasing an additional 15,190 shares during the period. Finally, Commerzbank Aktiengesellschaft FI raised its position in Stryker by 2,166.4% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 60,739 shares of the medical technology company’s stock worth $22,610,000 after purchasing an additional 58,059 shares during the last quarter. 77.09% of the stock is 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.