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

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

Several other equities analysts have also recently commented on the stock. Barclays reissued an “overweight” rating and set a $469.00 target price on shares of Stryker in a research note on Monday, February 2nd. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Needham & Company LLC boosted their target price on Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a report on Friday, January 30th. BTIG Research increased their price target on Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Sanford C. Bernstein lifted their price target on Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research report on Friday, January 9th. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $426.94.

Stryker Stock Performance

Shares of NYSE SYK opened at $380.15 on Friday. Stryker has a 12-month low of $329.16 and a 12-month high of $404.87. The company has a market cap of $145.48 billion, a PE ratio of 45.26, a P/E/G ratio of 2.22 and a beta of 0.87. The stock has a 50 day simple moving average of $360.05 and a 200-day simple moving average of $368.82. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66.

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

Insider Activity

In other news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction 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 sale, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SYK. Sunbelt Securities Inc. lifted its stake in Stryker by 13.9% in the 4th quarter. Sunbelt Securities Inc. now owns 419 shares of the medical technology company’s stock worth $147,000 after acquiring an additional 51 shares in the last quarter. Cambient Family Office LLC acquired a new position in shares of Stryker in the 4th quarter valued at about $5,139,000. Ruggaard & Associates LLC purchased a new stake in shares of Stryker in the fourth quarter worth approximately $204,000. McLaughlin Asset Management Inc. acquired a new stake in shares of Stryker during the fourth quarter worth approximately $767,000. Finally, Vancity Investment Management Ltd purchased a new position in Stryker during the fourth quarter valued at approximately $229,000. Hedge funds and other 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.