Citigroup Lowers Stryker (NYSE:SYK) Price Target to $385.00

Key Points

• Citigroup cut its price target on Stryker from $420 to $385 but maintained a "buy" rating, implying roughly a 15.7% upside from the current share price.
• Stryker beat quarterly expectations with EPS of $4.47 vs. $4.40 and revenue of $7.17B (up 11.4% YoY); the stock trades around $332.69 with a market cap of $127.4B and a P/E of 39.6.
• Significant insider sale: Director Ronda E. Stryker sold 250,000 shares at about $362.92 (~$90.7M), cutting her ownership by 9.23%; insiders hold 5.90% of the company.

Stryker (NYSE:SYK - Get Free Report) had its price target reduced by research analysts at Citigroup from $420.00 to $385.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the medical technology company's stock. Citigroup's target price suggests a potential upside of 15.72% from the stock's current price.

Several other research firms have also recently issued reports on SYK. Robert W. Baird set a $437.00 price objective on Stryker in a report on Friday, January 30th. Weiss Ratings restated a "hold (c+)" rating on shares of Stryker in a report on Monday, December 22nd. The Goldman Sachs Group set a $399.00 target price on Stryker in a report on Friday, January 9th. Sanford C. Bernstein lifted their target price on Stryker from $450.00 to $465.00 and gave the company an "outperform" rating in a report on Friday, January 9th. Finally, Barclays reiterated an "overweight" rating and issued a $469.00 target price on shares of Stryker in a report on Monday, February 2nd. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $425.56.

Stryker Trading Up 0.1%

Shares of SYK stock traded up $0.39 during mid-day trading on Tuesday, hitting $332.69. 870,848 shares of the company's stock were exchanged, compared to its average volume of 2,066,303. Stryker has a fifty-two week low of $319.32 and a fifty-two week high of $404.87. The stock has a 50-day simple moving average of $356.60 and a two-hundred day simple moving average of $361.44. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. The stock has a market cap of $127.41 billion, a price-to-earnings ratio of 39.62, a PEG ratio of 1.94 and a beta of 0.92.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business had revenue of $7.17 billion for the quarter, compared to analysts' expectations of $7.12 billion. During the same quarter last year, the firm earned $4.01 earnings per share. The business's revenue was up 11.4% on a year-over-year basis. Equities analysts expect that Stryker will post 13.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. J. Derek Lewis & Associates Inc. purchased a new position in Stryker in the fourth quarter valued at about $234,000. Stance Capital LLC raised its position in Stryker by 4.8% in the fourth quarter. Stance Capital LLC now owns 12,517 shares of the medical technology company's stock valued at $4,399,000 after purchasing an additional 569 shares during the period. Rockefeller Capital Management L.P. raised its position in Stryker by 13.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 85,579 shares of the medical technology company's stock valued at $30,079,000 after purchasing an additional 10,037 shares during the period. World Investment Advisors raised its position in Stryker by 0.7% in the fourth quarter. World Investment Advisors now owns 10,890 shares of the medical technology company's stock valued at $3,828,000 after purchasing an additional 71 shares during the period. Finally, Corient Private Wealth LLC raised its position in Stryker by 3.3% in the fourth quarter. Corient Private Wealth LLC now owns 981,354 shares of the medical technology company's stock valued at $345,023,000 after purchasing an additional 31,361 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons' offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

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