Truist Financial Issues Positive Forecast for Stryker (NYSE:SYK) Stock Price

Stryker (NYSE:SYK) had its price objective upped by Truist Financial from $409.00 to $413.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the medical technology company’s stock. Truist Financial’s price target points to a potential upside of 5.01% from the stock’s previous close.

Several other brokerages have also issued reports on SYK. Stifel Nicolaus raised their price target on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday. BTIG Research raised their price target on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their price target on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wells Fargo & Company raised their price target on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $413.65.

Stryker Stock Performance

Shares of Stryker stock traded up $2.23 during mid-day trading on Thursday, hitting $393.30. 231,997 shares of the stock were exchanged, compared to its average volume of 1,523,078. Stryker has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a 50-day simple moving average of $376.55 and a 200 day simple moving average of $362.18. 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 market capitalization of $149.93 billion, a P/E ratio of 42.15, a P/E/G ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 16.34% and a return on equity of 23.07%. During the same quarter in the previous year, the company posted $3.46 EPS. Sell-side analysts anticipate that Stryker will post 12.06 earnings per share for the current fiscal year.

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker 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 completion of the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.90% of the stock is currently owned by insiders.

Institutional Trading of Stryker

A number of hedge funds have recently made changes to their positions in the stock. Zhang Financial LLC lifted its stake in Stryker by 55.0% in the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after purchasing an additional 40,784 shares during the last quarter. Dale Q Rice Investment Management Ltd bought a new stake in Stryker in the fourth quarter worth $587,000. Berkshire Bank lifted its stake in Stryker by 13.8% in the fourth quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock worth $3,056,000 after purchasing an additional 1,030 shares during the last quarter. PFW Advisors LLC bought a new stake in Stryker in the fourth quarter worth $1,350,000. Finally, Traynor Capital Management Inc. bought a new stake in Stryker in the fourth quarter worth $324,000. 77.09% of the stock is owned by institutional investors.

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.