Truist Financial Issues Positive Forecast for Stryker (NYSE:SYK) Stock Price

Stryker (NYSE:SYK) had its price target raised by analysts at Truist Financial from $409.00 to $413.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the medical technology company’s stock. Truist Financial’s target price suggests a potential upside of 5.01% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on SYK. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Stifel Nicolaus upped their price objective on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank of Canada upped their price objective on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group upped their target price on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $413.65.

Stryker Trading Up 0.6 %

Shares of NYSE SYK traded up $2.23 during midday trading on Thursday, hitting $393.30. 231,997 shares of the company traded hands, compared to its average volume of 1,523,078. Stryker has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The stock has a 50-day moving average price of $376.55 and a 200 day moving average price of $362.18. The firm has a market cap of $149.93 billion, a P/E ratio of 42.15, a P/E/G ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 16.34% and a return on equity of 23.07%. During the same period in the previous year, the firm earned $3.46 EPS. As a group, analysts expect that Stryker will post 12.06 earnings per share for the current year.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SYK. Dunhill Financial LLC boosted its holdings in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after buying an additional 37 shares during the period. Darwin Wealth Management LLC bought a new position in Stryker in the 3rd quarter worth $36,000. Activest Wealth Management bought a new position in Stryker in the 4th quarter worth $36,000. Crews Bank & Trust bought a new position in Stryker in the 4th quarter worth $39,000. Finally, HBW Advisory Services LLC bought a new position in Stryker in the 3rd quarter worth $42,000. Institutional investors own 77.09% of the company’s stock.

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.