Stryker (NYSE:SYK) Earns Buy Rating from Needham & Company LLC

Stryker (NYSE:SYK)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $442.00 target price on the medical technology company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 19.02% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. Truist Financial raised their target price on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Argus set a $450.00 target price on Stryker in a research report on Monday, February 3rd. Wells Fargo & Company raised their target price on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group set a $422.00 target price on Stryker in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus raised their target price on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $421.90.

Stryker Price Performance

Shares of SYK opened at $371.38 on Friday. The business’s 50-day moving average is $384.28 and its two-hundred day moving average is $374.03. The company has a market capitalization of $141.71 billion, a P/E ratio of 47.86, a P/E/G ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker has a fifty-two week low of $314.93 and a fifty-two week high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the prior year, the company posted $3.46 EPS. Research analysts predict that Stryker will post 13.47 earnings per share for the current year.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the sale, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Institutional investors have recently made changes to their positions in the company. Chicago Capital LLC raised its position in shares of Stryker by 3.1% during the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock valued at $70,228,000 after buying an additional 5,841 shares during the period. Zhang Financial LLC raised its position in shares of Stryker by 55.0% during the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock valued at $41,366,000 after buying an additional 40,784 shares during the period. Appleton Partners Inc. MA increased its holdings in Stryker by 5.0% in the 4th quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock valued at $10,521,000 after purchasing an additional 1,400 shares during the last quarter. Metis Global Partners LLC increased its holdings in Stryker by 10.2% in the 4th quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company’s stock valued at $6,064,000 after purchasing an additional 1,561 shares during the last quarter. Finally, US Bancorp DE increased its holdings in Stryker by 0.5% in the 4th quarter. US Bancorp DE now owns 182,825 shares of the medical technology company’s stock valued at $65,829,000 after purchasing an additional 976 shares during the last quarter. Hedge funds and other 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.