The Goldman Sachs Group Forecasts Strong Price Appreciation for Stryker (NYSE:SYK) Stock

Stryker (NYSE:SYK) had its price target raised by equities researchers at The Goldman Sachs Group from $384.00 to $427.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the medical technology company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 8.52% from the company’s current price.

A number of other equities analysts have also issued reports on SYK. Barclays increased their price objective on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. UBS Group increased their price target on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Robert W. Baird increased their price target on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note 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 research note on Wednesday, December 11th. Finally, Evercore ISI increased their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $416.40.

Stryker Stock Performance

Shares of NYSE:SYK traded up $2.40 during trading on Thursday, hitting $393.47. 333,314 shares of the company traded hands, compared to its average volume of 1,528,647. The stock has a market capitalization of $150.00 billion, a price-to-earnings ratio of 42.17, a PEG ratio of 2.68 and a beta of 0.95. The business’s fifty day moving average is $376.55 and its 200-day moving average is $362.18. Stryker has a one year low of $314.93 and a one year high of $406.19. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.07% and a net margin of 16.34%. During the same period last year, the business posted $3.46 earnings per share. As a group, equities analysts predict that Stryker will post 12.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the 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 transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stryker

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dunhill Financial LLC grew its position in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Stryker in the third quarter valued at about $36,000. Activest Wealth Management acquired a new stake in Stryker during the fourth quarter worth about $36,000. Crews Bank & Trust bought a new position in Stryker during the fourth quarter valued at about $39,000. Finally, Hara Capital LLC bought a new position in Stryker during the third quarter valued at about $42,000. 77.09% of the stock is 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.