Evercore ISI Issues Positive Forecast for Stryker (NYSE:SYK) Stock Price

Stryker (NYSE:SYK) had its price objective hoisted by investment analysts at Evercore ISI from $380.00 to $384.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the medical technology company’s stock. Evercore ISI’s target price indicates a potential upside of 5.80% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Truist Financial increased their price target on shares of Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a research report on Monday, October 14th. BTIG Research boosted their price target on Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 14th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Morgan Stanley boosted their target price on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, Barclays increased their target price on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $385.11.

Stryker Stock Performance

Stryker stock traded up $3.95 on Wednesday, reaching $362.96. 819,578 shares of the stock were exchanged, compared to its average volume of 1,248,789. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Stryker has a twelve month low of $264.85 and a twelve month high of $374.63. The firm has a fifty day moving average price of $359.43 and a two-hundred day moving average price of $343.84. The stock has a market cap of $138.27 billion, a PE ratio of 41.16, a PEG ratio of 2.73 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.09. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company posted $2.46 earnings per share. Sell-side analysts anticipate that Stryker will post 12 EPS for the current year.

Insider Activity

In related news, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Viju Menon sold 600 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock worth $71,811,372 over the last quarter. 5.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Greenwood Capital Associates LLC lifted its stake in Stryker by 2.3% in the third quarter. Greenwood Capital Associates LLC now owns 22,964 shares of the medical technology company’s stock valued at $8,296,000 after acquiring an additional 519 shares during the last quarter. FSM Wealth Advisors LLC raised its holdings in shares of Stryker by 2.8% in the 3rd quarter. FSM Wealth Advisors LLC now owns 1,888 shares of the medical technology company’s stock valued at $682,000 after purchasing an additional 52 shares during the period. Moloney Securities Asset Management LLC acquired a new stake in Stryker in the 3rd quarter valued at about $1,133,000. Quintet Private Bank Europe S.A. grew its holdings in Stryker by 24.4% during the third quarter. Quintet Private Bank Europe S.A. now owns 7,230 shares of the medical technology company’s stock worth $2,612,000 after purchasing an additional 1,418 shares during the period. Finally, PDS Planning Inc increased its position in Stryker by 5.5% during the third quarter. PDS Planning Inc now owns 1,422 shares of the medical technology company’s stock worth $514,000 after buying an additional 74 shares during the last quarter. Institutional investors and hedge funds 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.