Weiss Ratings Reaffirms Buy (B-) Rating for Stryker (NYSE:SYK)

Key Points

• Weiss Ratings has reaffirmed a "buy (B-)" rating for Stryker (NYSE:SYK) following a recent assessment, reflecting confidence in the company's future performance.
• As of now, Stryker has an average target price of $432.24 among analysts, with 15 ratings indicating a "Buy" and 6 indicating "Hold."
• Despite a slight decline of 0.3% in stock price, Stryker reported strong quarterly earnings with a revenue increase of 11.1% compared to the previous year.

Stryker (NYSE:SYK - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by stock analysts at Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

A number of other analysts have also weighed in on SYK. Truist Financial lowered their target price on Stryker from $415.00 to $407.00 and set a "hold" rating for the company in a research note on Wednesday, October 15th. Rothschild Redb upgraded Stryker to a "hold" rating in a research note on Thursday, September 18th. Wells Fargo & Company raised their target price on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Rothschild & Co Redburn began coverage on Stryker in a research note on Thursday, September 18th. They issued a "neutral" rating and a $420.00 target price for the company. Finally, Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research report on Saturday, October 18th. Fifteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $432.24.

Stryker Stock Down 0.3%

Shares of NYSE SYK opened at $381.86 on Friday. Stryker has a 52-week low of $329.16 and a 52-week high of $406.19. The stock has a market cap of $145.99 billion, a PE ratio of 50.58, a PEG ratio of 2.76 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The business has a fifty day moving average of $379.84 and a two-hundred day moving average of $379.73.

Stryker (NYSE:SYK - Get Free Report) last announced 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 company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the company posted $2.81 earnings per share. The firm'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. As a group, equities research analysts expect that Stryker will post 13.47 earnings per share for the current fiscal year.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the transaction, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Viju Menon sold 500 shares of Stryker stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the transaction, the insider owned 12,511 shares in the company, valued at $4,886,921.71. This trade represents a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Stryker

Institutional investors and hedge funds have recently modified their holdings of the business. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Stryker in the 2nd quarter valued at approximately $26,000. Clayton Financial Group LLC acquired a new position in shares of Stryker in the 3rd quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Stryker in the 2nd quarter valued at approximately $28,000. Sachetta LLC grew its position in shares of Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company's stock valued at $29,000 after purchasing an additional 27 shares during the period. Finally, Kilter Group LLC acquired a new position in shares of Stryker in the 2nd quarter valued at approximately $29,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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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