Stryker (NYSE:SYK) PT Raised to $376.00 at Barclays

Stryker (NYSE:SYK) had its price target hoisted by investment analysts at Barclays from $372.00 to $376.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the medical technology company’s stock. Barclays‘s target price suggests a potential upside of 14.48% from the stock’s current price.

SYK has been the subject of several other research reports. Stifel Nicolaus lifted their price target on Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday. Truist Financial lifted their price target on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. Evercore ISI upped their price objective on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective on the stock in a report on Wednesday, January 31st. Finally, UBS Group lifted their target price on shares of Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $365.94.

Stryker Price Performance

Shares of SYK traded up $1.82 during midday trading on Thursday, hitting $328.45. 1,589,424 shares of the company traded hands, compared to its average volume of 1,415,127. The stock has a 50-day moving average of $347.52 and a 200-day moving average of $316.85. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.97. Stryker has a one year low of $249.98 and a one year high of $361.41. The firm has a market cap of $125.12 billion, a P/E ratio of 37.49, a PEG ratio of 2.55 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.14 EPS. As a group, sell-side analysts predict that Stryker will post 11.94 EPS for the current fiscal year.

Insider Buying and Selling at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Several large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Stryker in the fourth quarter valued at approximately $1,260,562,000. Global Assets Advisory LLC purchased a new position in shares of Stryker during the first quarter valued at $341,049,000. Magellan Asset Management Ltd raised its holdings in shares of Stryker by 74,911.8% in the third quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock valued at $185,921,000 after acquiring an additional 679,450 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Stryker by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after acquiring an additional 642,178 shares in the last quarter. Finally, Barclays PLC increased its position in Stryker by 103.5% during the 3rd quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock valued at $296,493,000 after purchasing an additional 551,798 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

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.