Stryker (NYSE:SYK) Stock Price Target Cut by Rothschild & Co Redburn

Stryker (NYSE:SYK) had its price target lowered by stock analysts at Rothschild & Co Redburn from $360.00 to $336.00 in a research note issued on Monday. Rothschild & Co Redburn‘s price target indicates a potential downside of 0.43% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Raymond James Financial reissued an “outperform” rating and set a $323.00 price objective (down from $370.00) on shares of Stryker in a research note on Friday, October 30th. Piper Sandler decreased their target price on shares of Stryker from $420.00 to $390.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Johnson Rice lowered shares of Stryker to a “hold” rating in a report on Friday, October 30th. Truist Financial restated a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Stryker in a research note on Monday. Finally, Royal Bank Of Canada reduced their price objective on Stryker from $420.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday. Twenty-one equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $343.73.

Stryker Stock Up 8.7%

SYK traded up $26.89 during trading on Monday, reaching $337.44. The stock had a trading volume of 2,411,483 shares, compared to its average volume of 2,478,378. The company has a current ratio of 2.18, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $128.46 billion, a price-to-earnings ratio of 35.96, a P/E/G ratio of 2.11 and a beta of 0.78. The stock’s 50 day moving average is $292.03 and its two-hundred day moving average is $324.02. Stryker has a one year low of $267.00 and a one year high of $389.33.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, October 29th. The medical technology company reported $3.52 EPS for the quarter, missing analysts’ consensus estimates of $3.55 by ($0.03). The business had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.62 billion. Stryker had a net margin of 13.78% and a return on equity of 23.74%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.19 EPS. As a group, analysts expect that Stryker will post 14.85 earnings per share for the current year.

Insider Buying and Selling at Stryker

In other news, insider Debra King sold 826 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total transaction of $277,783.80. Following the sale, the insider owned 6,210 shares of the company’s stock, valued at $2,088,423. This trade represents a 11.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dylan Crotty sold 441 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $328.61, for a total transaction of $144,917.01. Following the sale, the insider directly owned 6,102 shares in the company, valued at approximately $2,005,178.22. The trade was a 6.74% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 351,267 shares of company stock worth $118,197,701. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Stryker

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE bought a new stake in shares of Stryker in the second quarter worth $1,404,284,000. Legal & General Group Plc purchased a new stake in Stryker during the second quarter valued at $707,212,000. Jupiter Topco LLC bought a new position in Stryker in the second quarter valued at about $681,581,000. Corient Private Wealth LP bought a new position in Stryker in the second quarter valued at about $323,035,000. Finally, Flossbach Von Storch SE purchased a new position in Stryker in the second quarter worth about $464,506,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

About Stryker

Stryker Corporation (NYSE: SYK) is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company’s product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.