Stryker Corporation (NYSE:SYK) Stock Has Average Target Price of $355.04

Key Points

• Analyst sentiment remains moderately positive: 16 of 24 analysts rate Stryker a buy and eight rate it a hold, with an average 12-month price target of $355.04.
• Several firms have recently lowered price targets or ratings, including RBC, Needham and Truist, reflecting more cautious views despite the overall buy-leaning consensus.
• Stryker’s latest quarterly results fell short of expectations, reporting EPS of $3.52 versus $3.55 expected and revenue of $6.52 billion versus $6.62 billion; revenue nevertheless grew 7.6% year over year.

Shares of Stryker Corporation (NYSE:SYK - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty-four analysts that are currently covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $355.04.

Several analysts recently commented on SYK shares. Royal Bank Of Canada dropped their target price on Stryker from $420.00 to $375.00 and set an "outperform" rating on the stock in a report on Friday. Sanford C. Bernstein reissued a "market perform" rating on shares of Stryker in a report on Wednesday, October 7th. Johnson Rice downgraded Stryker to a "hold" rating in a report on Friday. Needham & Company LLC lowered their price objective on Stryker from $418.00 to $359.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Wolfe Research cut shares of Stryker from an "outperform" rating to a "peer perform" rating in a research note on Thursday, August 13th.

Stryker Price Performance

NYSE:SYK opened at $310.67 on Wednesday. The firm's fifty day moving average is $292.03 and its two-hundred day moving average is $324.02. The firm has a market cap of $118.27 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 2.18. Stryker has a one year low of $267.00 and a one year high of $389.33.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The medical technology company reported $3.52 earnings per share for the quarter, missing analysts' consensus estimates of $3.55 by ($0.03). The company had revenue of $6.52 billion for the quarter, compared to analysts' expectations of $6.62 billion. Stryker had a net margin of 13.78% and a return on equity of 23.74%. The business's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.19 EPS. Research analysts expect that Stryker will post 14.85 EPS for the current year.

Insider Activity at Stryker

In related news, insider Dylan Crotty sold 441 shares of the firm's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $328.61, for a total transaction of $144,917.01. Following the sale, the insider owned 6,102 shares in the company, valued at approximately $2,005,178.22. This trade represents a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Debra King sold 826 shares of the firm's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total transaction of $277,783.80. Following the sale, the insider owned 6,210 shares in the company, valued at approximately $2,088,423. This represents a 11.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 351,267 shares of company stock worth $118,197,701 in the last three months. Company insiders own 4.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. M Holdings Securities Inc. acquired a new stake in shares of Stryker during the 3rd quarter worth about $2,784,000. Brighton Jones LLC lifted its position in Stryker by 10.6% in the third quarter. Brighton Jones LLC now owns 6,457 shares of the medical technology company's stock valued at $1,778,000 after buying an additional 618 shares during the last quarter. Cooper Haims Advisors LLC lifted its position in Stryker by 5.1% in the third quarter. Cooper Haims Advisors LLC now owns 817 shares of the medical technology company's stock valued at $225,000 after buying an additional 40 shares during the last quarter. Uhlmann Price Securities LLC boosted its stake in Stryker by 137.3% during the third quarter. Uhlmann Price Securities LLC now owns 2,620 shares of the medical technology company's stock worth $722,000 after buying an additional 1,516 shares during the period. Finally, StoneX Group Inc. boosted its stake in Stryker by 53.2% during the third quarter. StoneX Group Inc. now owns 2,868 shares of the medical technology company's stock worth $836,000 after buying an additional 996 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker News Summary

Here are the key news stories impacting Stryker this week:

• Positive Sentiment: JPMorgan Chase & Co. maintained an “overweight” rating and sees potential upside to its $340 price target, though it cut that target from $350. JPMorgan analyst update
• Neutral Sentiment: A Stryker stock forecast and price-target page was published, but the supplied entry contains no specific forecast or rating change. Stryker stock forecast
• Negative Sentiment: Truist reaffirmed its “hold” rating and lowered its target to $305 from $310, below the cited share price of $310.67. Truist rating update
• Negative Sentiment: Other firms also cut their price targets: Citizens JMP, Citigroup, TD Cowen, and Barclays. Canaccord Genuity moved its rating to “hold.” The supplied headlines do not provide the revised targets, but the cluster of reductions and downgrade signals more cautious analyst sentiment. Citizens JMP target cut Citigroup target trim TD Cowen target cut Barclays target cut Canaccord rating change

About Stryker

Stryker Corporation NYSE: SYK is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company's product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.

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