Stryker Co. (NYSE:SYK) Given Consensus Recommendation of “Moderate Buy” by Analysts

Stryker Co. (NYSE:SYK) has been assigned a consensus recommendation of “Moderate Buy” from the twenty research firms that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $393.65.

Several brokerages have recently weighed in on SYK. Barclays upped their price target on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Truist Financial upped their price target on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. BTIG Research upped their price target on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wolfe Research began coverage on shares of Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target for the company. Finally, StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday.

Stryker Stock Performance

Stryker stock opened at $390.08 on Friday. The company’s 50-day moving average price is $363.45 and its 200-day moving average price is $346.97. Stryker has a twelve month low of $282.35 and a twelve month high of $392.70. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company has a market cap of $148.71 billion, a PE ratio of 41.81, a price-to-earnings-growth ratio of 2.89 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.46 EPS. On average, equities research analysts forecast that Stryker will post 12.06 EPS for the current fiscal year.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares in the company, valued at $3,219,495. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,381 shares of company stock worth $24,825,275. 5.90% of the stock is owned by corporate insiders.

Institutional Trading of Stryker

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Brophy Wealth Management LLC acquired a new stake in shares of Stryker in the third quarter worth $1,027,000. Vestcor Inc grew its position in Stryker by 24.0% during the third quarter. Vestcor Inc now owns 10,335 shares of the medical technology company’s stock valued at $3,734,000 after buying an additional 2,000 shares during the period. High Falls Advisors Inc acquired a new stake in Stryker during the third quarter valued at $209,000. Resources Management Corp CT ADV grew its position in Stryker by 3.9% during the third quarter. Resources Management Corp CT ADV now owns 16,661 shares of the medical technology company’s stock valued at $6,019,000 after buying an additional 633 shares during the period. Finally, M&T Bank Corp grew its position in Stryker by 4.6% during the third quarter. M&T Bank Corp now owns 50,820 shares of the medical technology company’s stock valued at $18,359,000 after buying an additional 2,257 shares during the period. Institutional investors and hedge funds 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.