Stryker (NYSE:SYK) had its price objective hoisted by equities researchers at Canaccord Genuity from $275.00 to $285.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the medical technology company’s stock. Canaccord Genuity’s price objective points to a potential upside of 8.32% from the company’s previous close.
SYK has been the subject of several other reports. Citigroup boosted their price target on Stryker from $264.00 to $303.00 in a research report on Wednesday, April 28th. JPMorgan Chase & Co. boosted their price target on Stryker from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 2nd. Credit Suisse Group dropped their price target on Stryker from $278.00 to $273.00 and set an “outperform” rating for the company in a research report on Thursday, January 28th. Robert W. Baird upped their target price on Stryker from $265.00 to $292.00 and gave the company an “outperform” rating in a report on Wednesday, April 28th. Finally, Cowen upped their target price on Stryker from $255.00 to $279.00 and gave the company an “outperform” rating in a report on Wednesday, April 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $261.59.
Shares of NYSE:SYK opened at $263.10 on Tuesday. Stryker has a 12-month low of $171.75 and a 12-month high of $268.04. The company has a market capitalization of $99.12 billion, a PE ratio of 57.07, a PEG ratio of 2.79 and a beta of 0.87. The business has a 50 day moving average of $249.13 and a two-hundred day moving average of $238.13. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.92.
Stryker (NYSE:SYK) last announced its earnings results on Monday, April 26th. The medical technology company reported $1.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.99 by ($0.06). The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.94 billion. Stryker had a return on equity of 20.94% and a net margin of 12.35%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.84 earnings per share. Equities research analysts predict that Stryker will post 7.18 earnings per share for the current fiscal year.
In other news, CFO Glenn S. Boehnlein sold 2,000 shares of Stryker stock in a transaction on Monday, March 1st. The stock was sold at an average price of $246.01, for a total transaction of $492,020.00. Following the transaction, the chief financial officer now directly owns 12,321 shares in the company, valued at approximately $3,031,089.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 4,000 shares of the business’s stock in a transaction on Thursday, April 8th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in SYK. Curi Capital acquired a new position in Stryker in the fourth quarter worth approximately $29,000. RWM Asset Management LLC acquired a new position in shares of Stryker in the fourth quarter worth about $33,000. Albion Financial Group UT acquired a new position in shares of Stryker in the fourth quarter worth about $34,000. Ossiam boosted its holdings in shares of Stryker by 294.9% in the fourth quarter. Ossiam now owns 154 shares of the medical technology company’s stock worth $38,000 after buying an additional 115 shares during the period. Finally, Graves Light Private Wealth Management Inc. acquired a new position in shares of Stryker in the fourth quarter worth about $41,000. 71.46% of the stock is owned by institutional investors and hedge funds.
Stryker Company Profile
Stryker Corp. engages in the provision of medical technology products and services. It operates through the following segments: Orthopaedics, MedSurg and Neurotechnology and Spine. The Orthopaedics segment provides reconstructive and trauma implant systems. The MedSurg segment deals with surgical equipment and navigation systems, endoscopy, patient handling and reprocessed medical devices.
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