Stryker (NYSE:SYK) Price Target Lowered to $357.00 at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group cut its price target for Stryker from $403 to $357 and kept a "neutral" rating, implying roughly a 5.9% upside from the current share price.
• Analyst consensus remains a Moderate Buy, with 14 Buy ratings vs. 6 Holds and an average price target of $423.22, well above Goldman Sachs' mark.
• Director Ronda E. Stryker sold 250,000 shares for about $90.73 million (a 9.23% reduction in her stake), while institutional investors hold roughly 77% of the stock.

Stryker (NYSE:SYK - Get Free Report) had its target price decreased by equities researchers at The Goldman Sachs Group from $403.00 to $357.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the medical technology company's stock. The Goldman Sachs Group's target price would suggest a potential upside of 5.90% from the company's current price.

Several other analysts have also recently commented on the company. Barclays restated an "overweight" rating and issued a $469.00 target price on shares of Stryker in a research report on Monday, February 2nd. Jefferies Financial Group reissued a "buy" rating and issued a $465.00 price target on shares of Stryker in a research note on Wednesday, March 4th. BTIG Research increased their price target on Stryker from $410.00 to $412.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Citizens Jmp raised Stryker from a "market perform" rating to an "outperform" rating and set a $440.00 price target for the company in a research note on Friday, December 19th. Finally, Truist Financial decreased their price target on Stryker from $400.00 to $392.00 and set a "hold" rating for the company in a research note on Thursday, December 18th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Stryker currently has an average rating of "Moderate Buy" and a consensus price target of $423.22.

Stryker Stock Performance

NYSE:SYK traded down $2.90 during mid-day trading on Thursday, reaching $337.11. The stock had a trading volume of 589,588 shares, compared to its average volume of 2,050,740. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. The firm has a market capitalization of $129.10 billion, a price-to-earnings ratio of 40.18, a PEG ratio of 1.94 and a beta of 0.92. Stryker has a twelve month low of $319.32 and a twelve month high of $404.87. The business has a 50 day simple moving average of $355.78 and a 200 day simple moving average of $360.97.

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

Insider Activity at Stryker

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

Institutional Trading of Stryker

A number of hedge funds have recently modified their holdings of the company. Clayton Financial Group LLC acquired a new stake in Stryker during the third quarter valued at approximately $26,000. Godfrey Financial Associates Inc. acquired a new stake in Stryker during the fourth quarter valued at approximately $26,000. Sankala Group LLC acquired a new stake in Stryker during the fourth quarter valued at approximately $26,000. United Financial Planning Group LLC acquired a new stake in Stryker during the third quarter valued at approximately $27,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in Stryker during the fourth quarter valued at approximately $27,000. Institutional investors own 77.09% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.