BTIG Research Forecasts Strong Price Appreciation for Stryker (NYSE:SYK) Stock

Stryker (NYSE:SYK) had its price objective boosted by research analysts at BTIG Research from $408.00 to $410.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the medical technology company’s stock. BTIG Research’s price objective suggests a potential upside of 15.12% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Wells Fargo & Company boosted their price objective on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Rothschild & Co Redburn assumed coverage on Stryker in a research report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 target price for the company. UBS Group set a $408.00 price target on shares of Stryker in a research note on Monday, October 13th. Evercore ISI reduced their price target on shares of Stryker from $418.00 to $410.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 7th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Stryker in a report on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $434.16.

Stryker Trading Down 3.5%

Shares of SYK stock opened at $356.15 on Friday. The company has a 50-day moving average of $378.08 and a two-hundred day moving average of $380.80. The firm has a market cap of $136.16 billion, a PE ratio of 47.17, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94. Stryker has a 1-year low of $329.16 and a 1-year high of $406.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, October 30th. The medical technology company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. The firm had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $6.04 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $2.87 EPS. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. On average, analysts predict that Stryker will post 13.47 EPS for the current year.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Viju Menon sold 500 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the transaction, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. This trade represents a 3.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SYK. Vanguard Group Inc. boosted its holdings in Stryker by 1.3% in the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock valued at $13,253,831,000 after purchasing an additional 440,607 shares in the last quarter. State Street Corp lifted its position in shares of Stryker by 1.0% during the 2nd quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock worth $5,929,765,000 after buying an additional 150,204 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Stryker by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock valued at $4,515,847,000 after buying an additional 1,021,496 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Stryker by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock valued at $2,910,445,000 after buying an additional 79,654 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Stryker by 307.6% in the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after buying an additional 4,223,366 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

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.