Stryker (NYSE:SYK) Rating Increased to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Stryker (NYSE:SYK) from an equal weight rating to an overweight rating in a research note published on Monday morning, Marketbeat.com reports. They currently have $445.00 price objective on the medical technology company’s stock, up from their prior price objective of $370.00.

SYK has been the topic of several other reports. Evercore ISI lifted their price target on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group lifted their price objective on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird lifted their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $398.40.

Stryker Price Performance

Stryker stock opened at $389.76 on Monday. The stock has a market cap of $148.58 billion, a P/E ratio of 41.77, a price-to-earnings-growth ratio of 2.94 and a beta of 0.94. The company has a fifty day simple moving average of $370.18 and a 200-day simple moving average of $352.79. Stryker has a 12-month low of $285.79 and a 12-month high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the business earned $2.46 EPS. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts expect that Stryker will post 12.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 17.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,781 shares of company stock valued at $24,612,275. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Stryker

Several institutional investors and hedge funds have recently modified their holdings of SYK. Dunhill Financial LLC lifted its stake in shares of Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the period. Centennial Bank AR increased its position in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in Stryker during the third quarter worth approximately $36,000. HBW Advisory Services LLC acquired a new position in Stryker during the third quarter worth approximately $42,000. Finally, Hara Capital LLC acquired a new position in Stryker during the third quarter worth approximately $42,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Company Profile

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.