Stryker (NYSE:SYK) Price Target Raised to $456.00

Stryker (NYSE:SYK) had its target price lifted by Wells Fargo & Company from $452.00 to $456.00 in a research note published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical technology company’s stock.

Other research analysts have also issued research reports about the stock. Evercore ISI cut their price objective on shares of Stryker from $410.00 to $405.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Needham & Company LLC reissued a “buy” rating and set a $448.00 price objective on shares of Stryker in a report on Friday. Rothschild & Co Redburn initiated coverage on Stryker in a report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 target price on the stock. Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Stryker in a research report on Monday, November 3rd. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $434.37.

Stryker Trading Down 3.0%

NYSE:SYK opened at $362.39 on Friday. Stryker has a 12 month low of $329.16 and a 12 month high of $406.19. The company’s 50 day moving average is $371.96 and its 200-day moving average is $381.27. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The firm has a market cap of $138.59 billion, a price-to-earnings ratio of 48.00, a P/E/G ratio of 2.66 and a beta of 0.94.

Stryker (NYSE:SYK) last released its earnings results 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. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $6.04 billion. During the same quarter in the previous year, the business earned $2.87 EPS. The business’s revenue was up 10.2% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. Equities analysts anticipate that Stryker will post 13.47 EPS for the current year.

Insider Activity

In other Stryker news, insider Viju Menon sold 500 shares of the company’s 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 transaction, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the completion of the transaction, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 520,500 shares of company stock valued at $184,803,065 over the last quarter. 5.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. United Services Automobile Association purchased a new position in shares of Stryker in the first quarter worth about $2,857,000. Hendley & Co. Inc. boosted its stake in shares of Stryker by 60.3% during the second quarter. Hendley & Co. Inc. now owns 14,018 shares of the medical technology company’s stock valued at $5,546,000 after purchasing an additional 5,274 shares during the period. AXS Investments LLC increased its stake in shares of Stryker by 13.7% in the first quarter. AXS Investments LLC now owns 8,827 shares of the medical technology company’s stock worth $3,286,000 after buying an additional 1,062 shares during the period. King Luther Capital Management Corp raised its holdings in Stryker by 7.9% during the 2nd quarter. King Luther Capital Management Corp now owns 447,479 shares of the medical technology company’s stock valued at $177,036,000 after buying an additional 32,682 shares during the last quarter. Finally, Park Edge Advisors LLC purchased a new stake in Stryker during the 2nd quarter valued at $679,000. 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.