Needham & Company LLC Boosts Stryker (NYSE:SYK) Price Target to $454.00

Stryker (NYSE:SYKGet Free Report) had its price target upped by analysts at Needham & Company LLC from $448.00 to $454.00 in a research note issued on Friday, Marketbeat reports. The firm currently has a “buy” rating on the medical technology company’s stock. Needham & Company LLC’s price target indicates a potential upside of 22.91% from the stock’s current price.

Several other research firms have also issued reports on SYK. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a research report on Tuesday. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 22nd. Citizens Jmp upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target on the stock in a research note on Friday, December 19th. Finally, Evercore ISI set a $390.00 price target on shares of Stryker in a report on Monday, January 5th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $426.95.

Get Our Latest Analysis on SYK

Stryker Stock Up 4.3%

Stryker stock opened at $369.39 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13. The company’s 50-day moving average is $359.40 and its 200-day moving average is $371.66. The firm has a market capitalization of $141.26 billion, a PE ratio of 43.97, a P/E/G ratio of 2.27 and a beta of 0.89. Stryker has a fifty-two week low of $329.16 and a fifty-two week high of $404.87.

Stryker (NYSE:SYKGet Free Report) last announced its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.73%. The business had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the prior year, the business earned $4.01 EPS. Stryker’s quarterly revenue was up 11.4% on a year-over-year basis. Sell-side analysts anticipate that Stryker will post 13.47 earnings per share for the current year.

Insider Transactions at Stryker

In related news, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the transaction, the chief accounting officer directly owned 2,833 shares in the company, valued at approximately $1,035,433.17. The trade was a 40.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 276,173 shares of the firm’s stock in a transaction that occurred on 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 owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. This trade represents a 9.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 522,118 shares of company stock worth $185,381,932. 5.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Stryker

A number of institutional investors have recently bought and sold shares of the stock. Mid American Wealth Advisory Group Inc. bought a new position in Stryker during the second quarter valued at approximately $26,000. Clayton Financial Group LLC bought a new stake in shares of Stryker during the third quarter valued at approximately $26,000. United Financial Planning Group LLC bought a new stake in shares of Stryker in the third quarter worth about $27,000. Elevation Point Wealth Partners LLC bought a new stake in Stryker in the second quarter worth $28,000. Finally, Sachetta LLC increased its stake in Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 27 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker News Roundup

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Stryker Company Profile

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Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

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