Stryker (NYSE:SYK) Price Target Lowered to $380.00 at Truist Financial

Key Points

• Truist Financial cut its price target on Stryker from $395 to $380 and kept a "hold" rating, implying roughly a 10.37% upside from the prior close.
• Analysts remain mostly positive overall — with 15 Buys and 6 Holds and a MarketBeat consensus of "Moderate Buy" and a mean price target of $421.11 — reflecting a wide range of targets into the mid-$400s.
• Stryker traded around $344.30 after the company beat quarterly EPS and revenue estimates, while a director sold 250,000 shares (~$90.7M), indicating notable insider selling amid strong institutional ownership.

Stryker (NYSE:SYK - Get Free Report) had its target price dropped by equities researchers at Truist Financial from $395.00 to $380.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "hold" rating on the medical technology company's stock. Truist Financial's target price suggests a potential upside of 10.37% from the company's previous close.

Several other analysts also recently issued reports on the company. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Jefferies Financial Group restated a "buy" rating and issued a $465.00 price target on shares of Stryker in a research report on Wednesday, March 4th. TD Cowen downgraded Stryker from a "buy" rating to a "hold" rating and set a $387.00 target price on the stock. in a research report on Monday, January 26th. Sanford C. Bernstein boosted their target price on Stryker from $450.00 to $465.00 and gave the company an "outperform" rating in a research report on Friday, January 9th. Finally, Needham & Company LLC boosted their target price on Stryker from $448.00 to $454.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Fifteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $421.11.

Stryker Stock Performance

NYSE:SYK traded down $1.58 on Wednesday, hitting $344.30. The stock had a trading volume of 543,466 shares, compared to its average volume of 2,047,448. The stock has a market cap of $131.86 billion, a price-to-earnings ratio of 40.94, a price-to-earnings-growth ratio of 2.03 and a beta of 0.92. 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 business's 50-day simple moving average is $354.15 and its two-hundred day simple moving average is $360.07. Stryker has a 52-week low of $319.32 and a 52-week high of $404.87.

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 for the quarter, beating analysts' consensus estimates of $4.40 by $0.07. The firm had revenue of $7.17 billion for the quarter, compared to analysts' expectations of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $4.01 EPS. As a group, research analysts predict that Stryker will post 13.47 earnings per share for the current year.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the company's stock in a transaction 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 sale, the director directly owned 2,457,331 shares in the company, valued at $891,814,566.52. This represents a 9.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 4.60% of the company's stock.

Institutional Investors Weigh In On Stryker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYK. Norges Bank acquired a new position in shares of Stryker in the fourth quarter valued at about $1,822,272,000. Auto Owners Insurance Co increased its holdings in shares of Stryker by 35,047.0% in the fourth quarter. Auto Owners Insurance Co now owns 2,914,741 shares of the medical technology company's stock valued at $1,024,444,000 after purchasing an additional 2,906,448 shares during the period. Wellington Management Group LLP increased its holdings in shares of Stryker by 22.6% in the fourth quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company's stock valued at $2,282,192,000 after purchasing an additional 1,198,665 shares during the period. Corient Private Wealth LLC increased its holdings in shares of Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company's stock valued at $887,525,000 after purchasing an additional 1,146,998 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of Stryker by 13.3% in the third quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company's stock valued at $2,342,987,000 after purchasing an additional 741,542 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Company Profile

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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