Stryker (NYSE:SYK) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Stryker (NYSE:SYK) had its price target boosted by equities researchers at Royal Bank of Canada from $386.00 to $400.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the medical technology company’s stock. Royal Bank of Canada’s target price points to a potential upside of 11.34% from the stock’s current price.

Other research analysts have also issued research reports about the company. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Morgan Stanley raised their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Truist Financial boosted their price objective on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $380.00 price target on shares of Stryker in a research report on Tuesday, September 10th. Finally, Barclays increased their price objective on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $390.05.

Stryker Stock Up 0.1 %

SYK traded up $0.26 during midday trading on Wednesday, hitting $359.27. 1,129,621 shares of the company’s stock traded hands, compared to its average volume of 1,250,266. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The company has a market cap of $136.86 billion, a PE ratio of 40.97, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91. The stock’s fifty day simple moving average is $359.43 and its 200-day simple moving average is $343.84. Stryker has a one year low of $264.85 and a one year high of $374.63.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.09. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.46 EPS. As a group, equities analysts anticipate that Stryker will post 12 earnings per share for the current fiscal year.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Stryker news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,068 shares of company stock valued at $71,811,372. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Centennial Bank AR increased its stake in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Stryker in the first quarter worth about $39,000. HBW Advisory Services LLC bought a new stake in Stryker during the 3rd quarter worth about $42,000. Grove Bank & Trust lifted its position in Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares during the period. Finally, DT Investment Partners LLC boosted its stake in shares of Stryker by 114.3% in the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after purchasing an additional 72 shares during the last quarter. 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.