Stryker (NYSE:SYK) Stock Rating Upgraded by StockNews.com

Stryker (NYSE:SYK) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

A number of other equities research analysts have also recently commented on the company. Citigroup lifted their price objective on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Piper Sandler increased their price target on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Wells Fargo & Company lifted their price objective on shares of Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Stifel Nicolaus upped their target price on shares of Stryker from $350.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Evercore ISI reduced their price target on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $370.32.

Stryker Stock Up 0.4 %

Shares of NYSE SYK opened at $339.37 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The company has a market cap of $129.28 billion, a price-to-earnings ratio of 38.74, a price-to-earnings-growth ratio of 2.66 and a beta of 0.89. Stryker has a 12-month low of $249.98 and a 12-month high of $361.41. The firm’s 50-day simple moving average is $337.90 and its 200 day simple moving average is $336.26.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. Stryker’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.14 earnings per share. On average, research analysts expect that Stryker will post 11.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stryker

A number of institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Stryker in the 4th quarter valued at about $1,260,562,000. Global Assets Advisory LLC acquired a new stake in shares of Stryker in the first quarter valued at approximately $341,049,000. JPMorgan Chase & Co. increased its holdings in shares of Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after acquiring an additional 813,311 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Stryker by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after acquiring an additional 642,178 shares during the period. Finally, 1832 Asset Management L.P. lifted its holdings in Stryker by 146.9% during the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after purchasing an additional 522,817 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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.