Stryker (NYSE:SYK) Upgraded to "Buy" at Wall Street Zen

Key Points

• Stryker (NYSE: SYK) has been upgraded to a "buy" rating by Wall Street Zen, moving from a previous "hold" rating, reflecting an optimistic outlook from analysts.
• The company recently reported $6.02 billion in quarterly revenue, exceeding expectations, with earnings per share of $3.13 that beat the consensus estimates.
• Stryker currently holds a consensus rating of "Moderate Buy" among analysts, with a target price of approximately $431.76 for its shares.

Stryker (NYSE:SYK - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

SYK has been the subject of several other research reports. Weiss Ratings reissued a "buy (b-)" rating on shares of Stryker in a report on Wednesday, October 8th. Redburn Partners set a $420.00 price objective on Stryker in a report on Thursday, September 18th. Rothschild Redb raised Stryker to a "hold" rating in a report on Thursday, September 18th. Evercore ISI cut their price objective on Stryker from $418.00 to $410.00 and set an "outperform" rating for the company in a report on Tuesday, October 7th. Finally, BTIG Research boosted their price objective on Stryker from $407.00 to $408.00 and gave the stock a "buy" rating in a report on Monday. Fifteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $431.76.

Stryker Stock Up 1.5%

SYK stock opened at $374.67 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $143.24 billion, a PE ratio of 49.63, a PEG ratio of 2.66 and a beta of 0.94. Stryker has a twelve month low of $329.16 and a twelve month high of $406.19. The stock has a 50-day simple moving average of $379.40 and a two-hundred day simple moving average of $378.77.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the previous year, the firm earned $2.81 EPS. The company's quarterly revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities analysts predict that Stryker will post 13.47 EPS for the current fiscal year.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the sale, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Viju Menon sold 500 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares of the company's stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

Institutional Trading of Stryker

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Stryker by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company's stock valued at $13,253,831,000 after acquiring an additional 440,607 shares in the last quarter. State Street Corp raised its holdings in shares of Stryker by 1.0% during the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company's stock valued at $5,929,765,000 after acquiring an additional 150,204 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Stryker by 9.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock valued at $4,515,847,000 after acquiring an additional 1,021,496 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Stryker by 1.1% during the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company's stock valued at $2,910,445,000 after acquiring an additional 79,654 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company's stock valued at $2,214,146,000 after acquiring an additional 4,223,366 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

About Stryker

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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