Wells Fargo & Company Raises Stryker (NYSE:SYK) Price Target to $405.00

Stryker (NYSE:SYK) had its price target increased by Wells Fargo & Company from $381.00 to $405.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the medical technology company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 11.58% from the stock’s current price.

SYK has been the topic of several other research reports. UBS Group raised their price target on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 target price on shares of Stryker in a research note on Wednesday, July 31st. Morgan Stanley upped their price target on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Stifel Nicolaus cut their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Needham & Company LLC increased their price target on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $385.11.

Stryker Stock Performance

Stryker stock traded up $3.95 during mid-day trading on Wednesday, reaching $362.96. The company’s stock had a trading volume of 819,578 shares, compared to its average volume of 1,248,789. The firm has a market cap of $138.27 billion, a price-to-earnings ratio of 41.16, a PEG ratio of 2.73 and a beta of 0.91. Stryker has a twelve month low of $264.85 and a twelve month high of $374.63. The business has a 50 day moving average price of $359.43 and a 200-day moving average price of $343.84. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

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

Insider Buying and Selling

In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,068 shares of company stock valued at $71,811,372. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norden Group LLC bought a new stake in Stryker in the first quarter worth $4,027,000. Kovack Advisors Inc. bought a new stake in shares of Stryker during the 1st quarter worth $224,000. New Century Financial Group LLC acquired a new position in Stryker in the 1st quarter valued at $220,000. Maryland State Retirement & Pension System boosted its holdings in Stryker by 0.9% during the first quarter. Maryland State Retirement & Pension System now owns 27,892 shares of the medical technology company’s stock valued at $9,347,000 after acquiring an additional 236 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its position in shares of Stryker by 6.8% during the 1st quarter. J.W. Cole Advisors Inc. now owns 2,606 shares of the medical technology company’s stock worth $933,000 after purchasing an additional 166 shares during the last quarter. 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.