Barclays Increases Stryker (NYSE:SYK) Price Target to $376.00

Stryker (NYSE:SYK) had its price target boosted by equities researchers at Barclays from $372.00 to $376.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the medical technology company’s stock. Barclays‘s price target would suggest a potential upside of 15.22% from the company’s previous close.

A number of other equities research analysts have also commented on SYK. Evercore ISI upped their price objective on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. TD Cowen boosted their target price on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Piper Sandler increased their price target on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday. Robert W. Baird increased their price target on shares of Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Roth Mkm increased their target price on shares of Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $359.00.

Stryker Price Performance

Shares of NYSE:SYK traded down $1.80 during midday trading on Thursday, hitting $326.32. The stock had a trading volume of 1,245,493 shares, compared to its average volume of 1,317,398. The company’s 50-day moving average price is $348.05 and its 200-day moving average price is $316.78. The company has a market capitalization of $124.15 billion, a P/E ratio of 37.27, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. Stryker has a fifty-two week low of $249.98 and a fifty-two week high of $361.41.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.44%. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period in the previous year, the firm posted $2.14 EPS. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities research analysts predict that Stryker will post 11.86 EPS for the current fiscal year.

Insider Transactions at Stryker

In related news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the sale, the director now directly owns 14,242 shares in the company, valued at $4,856,522. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the transaction, the director now owns 14,242 shares in the company, valued at approximately $4,856,522. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock valued at $72,845,768 in the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

A number of large investors have recently modified their holdings of the business. Burkett Financial Services LLC acquired a new stake in shares of Stryker during the fourth quarter worth about $25,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Stryker by 203.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 61 shares during the period. Rogco LP acquired a new position in Stryker in the fourth quarter valued at approximately $30,000. DSM Capital Partners LLC acquired a new position in Stryker in the fourth quarter valued at approximately $34,000. Finally, HBC Financial Services PLLC acquired a new position in Stryker in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

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.