Canaccord Genuity Group Raises Stryker (NYSE:SYK) Price Target to $435.00

Stryker (NYSE:SYK) had its price objective lifted by investment analysts at Canaccord Genuity Group from $420.00 to $435.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the medical technology company’s stock. Canaccord Genuity Group’s price objective points to a potential upside of 10.15% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Wednesday, January 22nd. BTIG Research lifted their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citigroup increased their price target on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Evercore ISI boosted their price objective on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $407.55.

Stryker Trading Down 1.2 %

Shares of SYK stock opened at $394.92 on Wednesday. The stock’s 50-day moving average price is $376.44 and its 200-day moving average price is $361.98. Stryker has a 12-month low of $310.74 and a 12-month high of $406.19. The stock has a market capitalization of $150.55 billion, a price-to-earnings ratio of 42.33, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 prior year, the business earned $3.46 EPS. Equities research analysts predict that Stryker will post 12.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred 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 in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SYK. Dunhill Financial LLC grew its position in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the period. Centennial Bank AR boosted its stake in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in Stryker during the third quarter worth about $36,000. Activest Wealth Management purchased a new position in Stryker during the fourth quarter valued at approximately $36,000. Finally, Crews Bank & Trust purchased a new position in Stryker during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

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.