Stryker (NYSE:SYK) Rating Increased to Buy at Needham & Company LLC

Stryker (NYSE:SYKGet Free Report) was upgraded by research analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has a $392.00 price objective on the medical technology company’s stock. Needham & Company LLC’s price target points to a potential upside of 18.74% from the company’s current price.

SYK has been the topic of a number of other reports. BTIG Research lifted their price objective on shares of Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Evercore ISI raised their target price on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Stifel Nicolaus raised their target price on Stryker from $350.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Truist Financial raised their target price on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a report on Wednesday, January 31st. Finally, Citigroup raised their target price on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $367.32.

Get Our Latest Research Report on SYK

Stryker Stock Performance

Shares of SYK opened at $330.12 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The firm has a market cap of $125.76 billion, a PE ratio of 37.68, a price-to-earnings-growth ratio of 2.60 and a beta of 0.91. The company’s 50 day simple moving average is $340.18 and its 200-day simple moving average is $323.43. Stryker has a 12-month low of $249.98 and a 12-month high of $361.41.

Stryker (NYSE:SYKGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period last year, the firm posted $2.14 EPS. Stryker’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities analysts predict that Stryker will post 11.95 EPS for the current year.

Insider Buying and Selling

In related news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.90% of the stock is currently owned by company insiders.

Institutional Trading of Stryker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Burkett Financial Services LLC purchased a new stake in Stryker in the 4th quarter valued at about $25,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after buying an additional 61 shares during the period. Rogco LP purchased a new stake in Stryker in the 4th quarter valued at about $30,000. DSM Capital Partners LLC purchased a new stake in Stryker in the 4th quarter valued at about $34,000. Finally, HBC Financial Services PLLC purchased a new stake in Stryker in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Company Profile

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Stryker (NYSE:SYK)

Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.