Stryker (NYSE:SYK) Price Target Increased to $381.00 by Analysts at Wells Fargo & Company

Stryker (NYSE:SYK - Get Free Report) had its price objective hoisted by equities research analysts at Wells Fargo & Company from $364.00 to $381.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an "overweight" rating on the medical technology company's stock. Wells Fargo & Company's target price would indicate a potential upside of 16.11% from the company's current price.

Several other equities analysts have also recently commented on SYK. Evercore ISI upped their price target on Stryker from $340.00 to $370.00 and gave the company an "outperform" rating in a report on Thursday, April 4th. Piper Sandler upped their price objective on Stryker from $375.00 to $380.00 and gave the company an "overweight" rating in a research note on Wednesday. Truist Financial increased their price target on Stryker from $330.00 to $345.00 and gave the stock a "hold" rating in a research report on Wednesday, January 31st. UBS Group increased their price objective on Stryker from $339.00 to $351.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Needham & Company LLC restated a "hold" rating on shares of Stryker in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $357.05.

Stryker Stock Down 2.5 %

Shares of SYK stock traded down $8.36 on Wednesday, reaching $328.14. 2,766,930 shares of the company's stock traded hands, compared to its average volume of 1,318,941. Stryker has a 12-month low of $249.98 and a 12-month high of $361.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The company has a market capitalization of $124.85 billion, a P/E ratio of 39.77, a price-to-earnings-growth ratio of 2.73 and a beta of 0.89. The business's 50 day moving average price is $348.05 and its two-hundred day moving average price is $316.78.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.14. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the previous year, the company posted $2.14 earnings per share. The business's quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities analysts forecast that Stryker will post 11.86 earnings per share for the current year.

Insider Transactions at Stryker

In related news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now owns 14,242 shares of the company's stock, valued at approximately $4,856,522. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ronda E. Stryker sold 201,146 shares of the company's stock in a transaction on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares of the company's stock, valued at $1,287,633,391.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Allan C. Golston sold 3,273 shares of the company's stock in a transaction on Friday, February 2nd. The stock was 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 owns 14,242 shares of the company's stock, valued at $4,856,522. 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. Insiders own 5.50% of the company's stock.

Institutional Trading of Stryker

Several institutional investors have recently added to or reduced their stakes in the business. Precision Wealth Strategies LLC raised its stake in Stryker by 5.0% in the first quarter. Precision Wealth Strategies LLC now owns 3,271 shares of the medical technology company's stock worth $1,171,000 after buying an additional 157 shares in the last quarter. Peterson Wealth Services boosted its holdings in Stryker by 0.6% in the first quarter. Peterson Wealth Services now owns 12,165 shares of the medical technology company's stock worth $4,353,000 after purchasing an additional 67 shares during the last quarter. Ballast Advisors LLC boosted its holdings in Stryker by 8.9% in the first quarter. Ballast Advisors LLC now owns 2,910 shares of the medical technology company's stock worth $1,041,000 after purchasing an additional 237 shares during the last quarter. Oak Ridge Investments LLC boosted its stake in shares of Stryker by 4.8% during the 1st quarter. Oak Ridge Investments LLC now owns 24,269 shares of the medical technology company's stock worth $8,685,000 after acquiring an additional 1,104 shares during the last quarter. Finally, Ascent Wealth Partners LLC boosted its stake in shares of Stryker by 0.6% during the 1st quarter. Ascent Wealth Partners LLC now owns 30,594 shares of the medical technology company's stock worth $10,949,000 after acquiring an additional 173 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

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.