Wall Street Zen Upgrades Stryker (NYSE:SYK) to “Buy”

Stryker (NYSE:SYK) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Other analysts also recently issued reports about the stock. BTIG Research raised their target price on shares of Stryker from $410.00 to $412.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Royal Bank Of Canada restated an “outperform” rating and set a $435.00 price objective on shares of Stryker in a report on Friday, November 14th. Needham & Company LLC upped their target price on shares of Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Wells Fargo & Company increased their target price on Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Finally, Piper Sandler restated an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $426.94.

Stryker Price Performance

SYK opened at $380.15 on Friday. The stock has a market cap of $145.48 billion, a P/E ratio of 45.26, a P/E/G ratio of 2.18 and a beta of 0.87. Stryker has a 12 month low of $329.16 and a 12 month high of $404.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. The company has a fifty day simple moving average of $360.05 and a 200 day simple moving average of $368.95.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. The firm had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The company’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $4.01 earnings per share. On average, research analysts expect that Stryker will post 13.47 EPS for the current year.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

A number of institutional investors and hedge funds have recently made changes to their positions in SYK. Kovack Advisors Inc. raised its position in Stryker by 3.6% during the second quarter. Kovack Advisors Inc. now owns 771 shares of the medical technology company’s stock worth $305,000 after acquiring an additional 27 shares in the last quarter. Armstrong Advisory Group Inc. increased its stake in shares of Stryker by 12.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock worth $91,000 after purchasing an additional 27 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Stryker by 1.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock valued at $704,000 after purchasing an additional 27 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its stake in Stryker by 3.9% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company’s stock valued at $275,000 after purchasing an additional 28 shares during the last quarter. Finally, Wolff Wiese Magana LLC grew its holdings in Stryker by 2.3% during the third quarter. Wolff Wiese Magana LLC now owns 1,271 shares of the medical technology company’s stock worth $470,000 after purchasing an additional 28 shares during the period. Institutional investors own 77.09% of the company’s stock.

About Stryker

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.