Stryker (NYSE:SYK) Given New $385.00 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity cut Stryker’s price target from $400 to $385 but maintained a “buy” rating, implying roughly 37% upside from the stock’s $280.36 price. Analysts’ consensus remains “Moderate Buy,” with an average target of $378.12.
• Stryker reported quarterly EPS of $3.69, beating estimates of $3.49, while revenue reached $6.59 billion and increased 9.4% year over year.
• Insiders sold approximately $118.2 million of shares over the past 90 days, including a $100.8 million sale by director Ronda E. Stryker; institutional investors own 77.09% of the stock.

Stryker (NYSE:SYK - Get Free Report) had its price target cut by equities researchers at Canaccord Genuity Group from $400.00 to $385.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the medical technology company's stock. Canaccord Genuity Group's price objective would indicate a potential upside of 37.32% from the company's current price.

A number of other analysts have also commented on SYK. Citigroup dropped their price target on Stryker from $399.00 to $360.00 and set a "buy" rating for the company in a research note on Thursday, September 10th. Royal Bank Of Canada decreased their price objective on shares of Stryker from $435.00 to $420.00 and set an "outperform" rating for the company in a report on Friday, July 31st. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. decreased their price target on shares of Stryker from $400.00 to $350.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Stryker in a report on Friday, July 31st. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $378.12.

Stryker Stock Performance

NYSE:SYK opened at $280.36 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.33 and a current ratio of 2.16. Stryker has a fifty-two week low of $267.00 and a fifty-two week high of $392.55. The business has a 50 day moving average price of $321.03 and a 200-day moving average price of $323.18. The firm has a market cap of $107.54 billion, a PE ratio of 29.05, a price-to-earnings-growth ratio of 1.79 and a beta of 0.76.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The medical technology company reported $3.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.49 by $0.20. The business had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.58 billion. Stryker had a net margin of 14.43% and a return on equity of 23.63%. The company's revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.13 EPS. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Equities research analysts predict that Stryker will post 15 earnings per share for the current year.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 300,000 shares of Stryker stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $335.90, for a total value of $100,770,000.00. Following the completion of the sale, the director owned 2,301,375 shares of the company's stock, valued at approximately $773,031,862.50. The trade was a 11.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Debra King sold 826 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total value of $277,783.80. Following the sale, the insider owned 6,210 shares of the company's stock, valued at approximately $2,088,423. This trade represents a 11.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 351,267 shares of company stock valued at $118,197,701 over the last ninety days. 4.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Stryker

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its position in shares of Stryker by 2.1% during the 4th quarter. State Street Corp now owns 15,254,407 shares of the medical technology company's stock valued at $5,374,731,000 after acquiring an additional 311,507 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Stryker by 0.6% during the 2nd quarter. Wellington Management Group LLP now owns 8,167,185 shares of the medical technology company's stock valued at $2,571,357,000 after buying an additional 45,478 shares during the period. Geode Capital Management LLC grew its position in Stryker by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 7,535,572 shares of the medical technology company's stock worth $2,636,238,000 after acquiring an additional 69,851 shares during the period. Norges Bank acquired a new position in shares of Stryker in the 4th quarter valued at $1,822,272,000. Finally, Bank of America Corp DE acquired a new stake in shares of Stryker during the 2nd quarter worth about $1,404,284,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

About Stryker

Stryker Corporation is a global medical technology company headquartered in Portage, Michigan. The company develops and manufactures products used by hospitals, physicians and other healthcare providers across a range of medical specialties.

Stryker's principal businesses include orthopaedics, medical and surgical equipment, and neurovascular products. Its offerings include joint replacement and trauma implants, spinal devices, surgical instruments, operating-room equipment, endoscopy systems, surgical navigation technologies, emergency-care products and devices used to treat neurovascular conditions such as stroke.

Founded in 1941 by Dr.

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