Stryker (NYSE:SYK) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Stryker (NYSE:SYK) from a hold rating to a buy rating in a research report report published on Thursday.

A number of other brokerages also recently commented on SYK. Robert W. Baird upped their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup increased their price target on Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price target on Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group increased their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $393.65.

Stryker Stock Up 1.7 %

NYSE:SYK traded up $6.34 during mid-day trading on Thursday, hitting $389.62. 1,507,919 shares of the company’s stock traded hands, compared to its average volume of 1,260,531. 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 fifty day moving average of $363.45 and a 200 day moving average of $346.97. The company has a market capitalization of $148.53 billion, a P/E ratio of 41.26, a P/E/G ratio of 2.93 and a beta of 0.91. Stryker has a twelve month low of $282.35 and a twelve month high of $392.70.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.46 EPS. On average, analysts forecast that Stryker will post 12.06 EPS for the current year.

Insider Buying and Selling

In other news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,381 shares of company stock worth $24,825,275. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Lord Abbett & CO. LLC boosted its holdings in Stryker by 5.0% in the first quarter. Lord Abbett & CO. LLC now owns 821 shares of the medical technology company’s stock valued at $294,000 after purchasing an additional 39 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in Stryker by 10.7% in the first quarter. Orion Portfolio Solutions LLC now owns 14,202 shares of the medical technology company’s stock valued at $5,082,000 after purchasing an additional 1,372 shares during the period. Nwam LLC boosted its holdings in Stryker by 2.1% in the first quarter. Nwam LLC now owns 2,214 shares of the medical technology company’s stock valued at $740,000 after purchasing an additional 46 shares during the period. Motco boosted its holdings in Stryker by 120.4% in the first quarter. Motco now owns 1,827 shares of the medical technology company’s stock valued at $654,000 after purchasing an additional 998 shares during the period. Finally, Tocqueville Asset Management L.P. boosted its holdings in Stryker by 6.2% in the first quarter. Tocqueville Asset Management L.P. now owns 2,222 shares of the medical technology company’s stock valued at $795,000 after purchasing an additional 130 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

About Stryker

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.