Stryker’s (SYK) Buy Rating Reaffirmed at Needham & Company LLC

Stryker (NYSE:SYK)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $442.00 price target on the medical technology company’s stock. Needham & Company LLC’s price target indicates a potential upside of 22.46% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Truist Financial boosted their target price on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Wednesday, January 1st. Canaccord Genuity Group boosted their target price on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird boosted their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Stock Performance

Shares of SYK stock opened at $360.93 on Tuesday. The company has a market capitalization of $137.59 billion, a price-to-earnings ratio of 38.68, a PEG ratio of 2.82 and a beta of 0.95. 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 company has a 50-day simple moving average of $375.33 and a 200 day simple moving average of $357.33. Stryker has a 52 week low of $294.34 and a 52 week high of $398.20.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the previous year, the company earned $2.46 EPS. The business’s revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts predict that Stryker will post 12.06 earnings per share for the current year.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’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 transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.90% of the stock is owned by corporate insiders.

Institutional Trading of Stryker

Several institutional investors and hedge funds have recently made changes to their positions in SYK. Private Advisor Group LLC raised its holdings in shares of Stryker by 0.9% in the second quarter. Private Advisor Group LLC now owns 15,441 shares of the medical technology company’s stock valued at $5,254,000 after purchasing an additional 131 shares during the last quarter. Norden Group LLC raised its holdings in shares of Stryker by 6.1% in the second quarter. Norden Group LLC now owns 831 shares of the medical technology company’s stock valued at $283,000 after purchasing an additional 48 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Stryker by 15.2% in the second quarter. Acadian Asset Management LLC now owns 64,501 shares of the medical technology company’s stock valued at $21,939,000 after purchasing an additional 8,495 shares during the last quarter. Prudential PLC grew its position in Stryker by 17.0% during the second quarter. Prudential PLC now owns 5,660 shares of the medical technology company’s stock valued at $1,926,000 after buying an additional 822 shares during the period. Finally, Wedbush Securities Inc. boosted its position in Stryker by 2.2% during the second quarter. Wedbush Securities Inc. now owns 8,299 shares of the medical technology company’s stock worth $2,824,000 after purchasing an additional 177 shares during the period. 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.