Truist Financial Raises Stryker (NYSE:SYK) Price Target to $415.00

Key Points

• Truist Financial raised Stryker's price target from $410.00 to $415.00, reflecting a potential upside of 8.97% from its current price while maintaining a "hold" rating on the stock.
• Analysts from Needham, Roth Mkm, and Wells Fargo have issued higher price targets and "buy" ratings, indicating strong market support, with a consensus target price of $430.10.
• Stryker reported a quarterly EPS of $3.13, exceeding estimates, along with a revenue growth of 11.1% year-over-year, signaling robust financial performance.

Stryker (NYSE:SYK - Get Free Report) had its price target lifted by Truist Financial from $410.00 to $415.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "hold" rating on the medical technology company's stock. Truist Financial's target price would indicate a potential upside of 8.97% from the stock's current price.

Several other equities analysts have also weighed in on the stock. Needham & Company LLC lifted their target price on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a report on Friday. Roth Mkm raised their price target on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Wells Fargo & Company boosted their price objective on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Finally, Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $430.10.

Stryker Price Performance

NYSE:SYK opened at $380.84 on Monday. The firm has a market cap of $145.36 billion, a price-to-earnings ratio of 50.53, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. Stryker has a 12-month low of $314.93 and a 12-month high of $406.19. The company's 50-day moving average is $387.46 and its two-hundred day moving average is $380.38.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the company earned $2.81 EPS. The firm's quarterly revenue was up 11.1% on a year-over-year basis. Research analysts expect that Stryker will post 13.47 EPS for the current year.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the 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 transaction, the director owned 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.20% of the stock is owned by insiders.

Institutional Trading of Stryker

Large investors have recently modified their holdings of the company. Consolidated Portfolio Review Corp raised its position in Stryker by 4.2% in the second quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company's stock worth $256,000 after purchasing an additional 26 shares in the last quarter. Princeton Global Asset Management LLC boosted its stake in Stryker by 16.9% in the 2nd quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company's stock valued at $71,000 after buying an additional 26 shares in the last quarter. Sunflower Bank N.A. grew its position in Stryker by 4.0% in the second quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company's stock valued at $275,000 after acquiring an additional 27 shares during the period. Pitti Group Wealth Management LLC raised its stake in Stryker by 3.2% during the second quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company's stock worth $341,000 after acquiring an additional 27 shares in the last quarter. Finally, Sachetta LLC lifted its holdings in shares of Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company's stock valued at $29,000 after acquiring an additional 27 shares during the period. 77.09% of the stock is owned by institutional investors.

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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