Stryker Corporation (NYSE:SYK) Stock Has Consensus Target Price of $355.04 According to Brokerages

Stryker Corporation (NYSE:SYK) has been given an average rating of “Moderate Buy” by the twenty-eight analysts that are presently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $343.73.

Several research firms recently commented on SYK. Leerink Partners cut their target price on shares of Stryker from $403.00 to $353.00 and set an “outperform” rating on the stock in a research report on Friday, October 9th. Rothschild & Co Redburn decreased their price target on shares of Stryker from $360.00 to $336.00 in a research report on Monday, November 2nd. Evercore raised their price target on shares of Stryker from $335.00 to $355.00 in a research note on Wednesday, October 28th. BMO Capital Markets reiterated an “outperform” rating and set a $309.00 price target (down from $317.00) on shares of Stryker in a report on Friday, October 30th. Finally, Canaccord Genuity Group cut shares of Stryker from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $385.00 to $300.00 in a research note on Friday, October 30th.

Insider Buying and Selling

In related news, insider Debra King sold 826 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total transaction of $277,783.80. Following the completion of the transaction, the insider directly 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda Stryker sold 300,000 shares of Stryker stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $335.90, for a total value of $100,770,000.00. Following the transaction, the director directly owned 2,301,375 shares in the company, valued at $773,031,862.50. The trade was a 11.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 351,267 shares of company stock valued at $118,197,701 in the last three months. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Stryker

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Condor Capital Management grew its stake in Stryker by 1.9% in the third quarter. Condor Capital Management now owns 11,002 shares of the medical technology company’s stock valued at $3,030,000 after acquiring an additional 203 shares during the period. AlpenGlobal Capital LLC raised its position in shares of Stryker by 1.0% during the third quarter. AlpenGlobal Capital LLC now owns 6,217 shares of the medical technology company’s stock worth $1,712,000 after purchasing an additional 62 shares during the period. Vista Capital Partners Inc. acquired a new position in shares of Stryker during the third quarter worth approximately $5,344,000. Moors & Cabot Inc. raised its position in shares of Stryker by 28.3% during the third quarter. Moors & Cabot Inc. now owns 11,524 shares of the medical technology company’s stock worth $3,174,000 after purchasing an additional 2,539 shares during the period. Finally, Compass Capital Management Inc. lifted its holdings in shares of Stryker by 5.0% in the 3rd quarter. Compass Capital Management Inc. now owns 168,441 shares of the medical technology company’s stock worth $46,387,000 after purchasing an additional 7,962 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of SYK opened at $325.26 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 2.18 and a debt-to-equity ratio of 0.60. The stock has a market cap of $123.83 billion, a PE ratio of 34.64, a PEG ratio of 2.24 and a beta of 0.78. Stryker has a 12-month low of $267.00 and a 12-month high of $389.33. The business has a 50-day simple moving average of $292.37 and a two-hundred day simple moving average of $323.59.

Stryker (NYSE:SYK) last released its quarterly earnings results 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). Stryker had a return on equity of 23.74% and a net margin of 13.78%. The firm had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter last year, the firm posted $3.19 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. Analysts anticipate that Stryker will post 14.84 earnings per share for the current fiscal year.

About Stryker

Stryker is a medical technology company that develops and sells products and services for healthcare providers. Its offerings include orthopedic implants and surgical equipment, neurotechnology and spine products, and medical and surgical equipment used in hospitals and other care settings.

The company’s products also include patient-handling and emergency medical equipment, as well as instruments and technologies that support surgical procedures. Stryker serves healthcare customers in the United States and internationally.

Founded in 1941 by orthopedic surgeon Dr.