Stryker (NYSE:SYK) Price Target Raised to $435.00 at Wells Fargo & Company

Stryker (NYSE:SYK) had its price target upped by equities research analysts at Wells Fargo & Company from $427.00 to $435.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the medical technology company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 12.35% from the company’s current price.

SYK has been the topic of a number of other reports. Citigroup raised their price target on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price target on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday. Canaccord Genuity Group raised their price objective on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group upped their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, BTIG Research increased their price target on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $412.95.

Stryker Stock Performance

Shares of SYK stock traded down $7.98 during trading hours on Wednesday, reaching $387.17. The stock had a trading volume of 641,952 shares, compared to its average volume of 1,447,382. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The firm has a 50-day simple moving average of $376.44 and a 200-day simple moving average of $361.98. The firm has a market capitalization of $147.60 billion, a PE ratio of 41.50, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95. Stryker has a twelve month low of $314.05 and a twelve month high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.07% and a net margin of 16.34%. During the same quarter in the previous year, the firm earned $3.46 EPS. As a group, equities analysts forecast that Stryker will post 12.06 earnings per share for the current year.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the company’s 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 transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this link. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Stryker

A number of institutional investors have recently bought and sold shares of SYK. State Street Corp raised its stake in shares of Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares in the last quarter. FMR LLC raised its position in Stryker by 3.0% during the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after acquiring an additional 215,782 shares in the last quarter. Geode Capital Management LLC raised its position in Stryker by 2.5% during the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after acquiring an additional 165,490 shares in the last quarter. Parnassus Investments LLC bought a new stake in Stryker in the third quarter worth approximately $762,798,000. Finally, Janus Henderson Group PLC grew its position in Stryker by 1.5% in the third quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock worth $711,594,000 after acquiring an additional 28,421 shares in the last quarter. 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.