Royal Bank of Canada Raises Stryker (NYSE:SYK) Price Target to $386.00

Stryker (NYSE:SYK - Get Free Report) had its target price lifted by equities research analysts at Royal Bank of Canada from $360.00 to $386.00 in a research report issued on Monday, Benzinga reports. The firm currently has an "outperform" rating on the medical technology company's stock. Royal Bank of Canada's target price points to a potential upside of 13.82% from the stock's previous close.

Other analysts also recently issued research reports about the company. Evercore ISI increased their target price on Stryker from $340.00 to $370.00 and gave the company an "outperform" rating in a research note on Thursday, April 4th. Wells Fargo & Company raised their price objective on shares of Stryker from $336.00 to $364.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 31st. Truist Financial upped their target price on shares of Stryker from $330.00 to $345.00 and gave the company a "hold" rating in a research note on Wednesday, January 31st. Canaccord Genuity Group upgraded shares of Stryker from a "hold" rating to a "buy" rating and set a $360.00 price target on the stock in a research report on Wednesday, January 31st. Finally, StockNews.com raised shares of Stryker from a "hold" rating to a "buy" rating in a research report on Tuesday, January 23rd. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $339.22.

Stryker Stock Down 0.9 %

Shares of SYK traded down $2.92 during midday trading on Monday, reaching $339.13. 1,010,142 shares of the stock were exchanged, compared to its average volume of 1,255,121. The company has a market cap of $129.03 billion, a price-to-earnings ratio of 41.07, a P/E/G ratio of 2.75 and a beta of 0.89. The firm has a 50 day simple moving average of $350.82 and a 200-day simple moving average of $310.95. Stryker has a 12-month low of $249.98 and a 12-month high of $361.41. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. During the same period in the previous year, the company earned $3.00 EPS. The company's revenue for the quarter was up 11.8% on a year-over-year basis. Research analysts forecast that Stryker will post 11.86 EPS for the current year.

Insider Activity

In related news, Director Ronda E. Stryker sold 201,146 shares of the firm's stock in a transaction on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the sale, the director now directly owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 201,146 shares of the company's stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the sale, the director now owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock worth $72,845,768 in the last 90 days. Corporate insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On Stryker

Several large investors have recently made changes to their positions in the stock. Burkett Financial Services LLC bought a new stake in shares of Stryker in the 4th quarter valued at about $25,000. Freedom Wealth Alliance LLC bought a new stake in Stryker in the fourth quarter valued at approximately $26,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company's stock valued at $27,000 after buying an additional 61 shares during the last quarter. Quarry LP bought a new position in shares of Stryker during the 1st quarter worth approximately $27,000. Finally, Rogco LP acquired a new position in shares of Stryker during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Company Profile

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.