Royal Bank of Canada Boosts Stryker (NYSE:SYK) Price Target to $435.00

Stryker (NYSE:SYK) had its target price boosted by analysts at Royal Bank of Canada from $425.00 to $435.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the medical technology company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 10.84% from the company’s current price.

A number of other research analysts also recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research note on Wednesday. Robert W. Baird boosted their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and issued a $442.00 price target on shares of Stryker in a research report on Wednesday. Citigroup raised their target price on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $413.45.

Stryker Trading Down 0.7 %

NYSE SYK traded down $2.69 on Wednesday, reaching $392.46. The stock had a trading volume of 1,399,570 shares, compared to its average volume of 1,474,424. The firm has a market capitalization of $149.61 billion, a price-to-earnings ratio of 41.82, a P/E/G ratio of 2.68 and a beta of 0.95. The stock has a fifty day moving average price of $376.44 and a two-hundred day moving average price of $361.98. Stryker has a 12-month low of $314.05 and a 12-month 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 released 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 period in the previous year, the firm posted $3.46 earnings per share. As a group, sell-side analysts forecast that Stryker will post 12.06 EPS for the current fiscal year.

Insider Activity

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated 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 owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SYK. Dunhill Financial LLC increased its stake in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after buying an additional 37 shares in the last quarter. Centennial Bank AR boosted its stake in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new stake in Stryker during the 3rd quarter valued at approximately $36,000. Activest Wealth Management purchased a new position in shares of Stryker in the fourth quarter worth $36,000. Finally, Crews Bank & Trust bought a new position in shares of Stryker during the fourth quarter worth $39,000. 77.09% of the stock is currently owned by 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.