Rothschild & Co Redburn Issues Pessimistic Forecast for Stryker (NYSE:SYK) Stock Price

Stryker (NYSE:SYK) had its price target cut by research analysts at Rothschild & Co Redburn from $360.00 to $336.00 in a report released on Monday. Rothschild & Co Redburn‘s price target suggests a potential downside of 0.80% from the stock’s current price.

SYK has been the topic of several other reports. Truist Financial reissued a “hold” rating and issued a $305.00 target price (down from $310.00) on shares of Stryker in a report on Monday. Barclays decreased their price target on Stryker from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Friday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $309.00 price objective (down from $317.00) on shares of Stryker in a research note on Friday. UBS Group started coverage on shares of Stryker in a research report on Tuesday, July 28th. They set a “buy” rating and a $400.00 price target on the stock. Finally, Needham & Company LLC reduced their price target on shares of Stryker from $418.00 to $359.00 and set a “buy” rating for the company in a research report on Friday, October 30th. Twenty-one investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $343.73.

Stryker Stock Performance

Shares of Stryker stock traded up $28.15 during trading on Monday, reaching $338.70. The company’s stock had a trading volume of 2,506,196 shares, compared to its average volume of 2,479,548. Stryker has a 52 week low of $267.00 and a 52 week high of $389.33. The firm has a market cap of $128.94 billion, a PE ratio of 36.04, a P/E/G ratio of 2.11 and a beta of 0.78. The business’s 50-day moving average price is $292.03 and its 200-day moving average price is $324.02. The company has a quick ratio of 1.30, a current ratio of 2.18 and a debt-to-equity ratio of 0.60.

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

Insiders Place Their Bets

In other news, insider Dylan Crotty sold 441 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $328.61, for a total transaction of $144,917.01. Following the completion of the transaction, the insider directly owned 6,102 shares in the company, valued at $2,005,178.22. The trade was a 6.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronda Stryker sold 50,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $340.10, for a total transaction of $17,005,000.00. Following the completion of the transaction, the director directly owned 2,251,375 shares in the company, valued at approximately $765,692,637.50. The trade was a 2.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 351,267 shares of company stock worth $118,197,701 in the last three months. 4.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Stryker

Several institutional investors and hedge funds have recently modified their holdings of SYK. State Street Corp raised its holdings in shares of Stryker by 1.2% during the second quarter. State Street Corp now owns 15,532,565 shares of the medical technology company’s stock valued at $4,903,772,000 after purchasing an additional 183,400 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Stryker by 0.6% in the second quarter. Wellington Management Group LLP now owns 8,167,185 shares of the medical technology company’s stock worth $2,571,357,000 after purchasing an additional 45,478 shares during the last quarter. Bank of America Corp DE bought a new stake in Stryker in the 2nd quarter worth approximately $1,404,284,000. Royal Bank of Canada grew its position in Stryker by 6.5% in the 1st quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company’s stock worth $1,075,552,000 after purchasing an additional 199,863 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Stryker by 21.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,689,376 shares of the medical technology company’s stock valued at $846,723,000 after buying an additional 481,175 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Company Profile

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.