Stryker (NYSE:SYK) Price Target Raised to $445.00

Key Points

• Wells Fargo & Company raised Stryker's target price from $435.00 to $445.00, indicating a potential upside of 17.57% from the previous close.
• Stryker recently reported $6.02 billion in revenue for the last quarter, exceeding analyst estimates of $5.92 billion and marking an 11.1% increase compared to the same quarter last year.
• The stock has received ratings of "buy" from multiple brokerages, with a consensus rating of "Moderate Buy" and an average price target of $429.35.

Stryker (NYSE:SYK - Get Free Report) had its target price hoisted by research analysts at Wells Fargo & Company from $435.00 to $445.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the medical technology company's stock. Wells Fargo & Company's target price indicates a potential upside of 17.57% from the stock's previous close.

Several other brokerages have also recently weighed in on SYK. BTIG Research reissued a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Citigroup reissued a "buy" rating and set a $455.00 price target (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research report on Monday, May 5th. Finally, JMP Securities restated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and an average price target of $429.35.

Stryker Trading Down 3.6%

Shares of SYK stock traded down $14.23 on Friday, hitting $378.51. 1,200,188 shares of the company's stock traded hands, compared to its average volume of 1,439,178. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. Stryker has a one year low of $314.93 and a one year high of $406.19. The company's fifty day simple moving average is $387.43 and its 200 day simple moving average is $380.19. The stock has a market capitalization of $144.47 billion, a price-to-earnings ratio of 51.15, a P/E/G ratio of 2.97 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter last year, the firm earned $2.81 EPS. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts forecast that Stryker will post 13.47 EPS for the current year.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the sale, the director directly owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.90% of the company's stock.

Institutional Investors Weigh In On Stryker

Several hedge funds have recently modified their holdings of the stock. Schmidt P J Investment Management Inc. increased its holdings in Stryker by 4.8% during the 2nd quarter. Schmidt P J Investment Management Inc. now owns 22,441 shares of the medical technology company's stock worth $8,878,000 after purchasing an additional 1,038 shares during the last quarter. CCLA Investment Management grew its position in shares of Stryker by 7.7% in the 2nd quarter. CCLA Investment Management now owns 348,812 shares of the medical technology company's stock worth $137,937,000 after acquiring an additional 24,822 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its position in shares of Stryker by 9.2% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 23,214 shares of the medical technology company's stock worth $9,204,000 after acquiring an additional 1,962 shares in the last quarter. Solstein Capital LLC acquired a new position in Stryker during the 2nd quarter worth $43,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of Stryker by 0.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 634,181 shares of the medical technology company's stock worth $250,901,000 after buying an additional 2,001 shares in 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.

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