Stryker (NYSE:SYK) Given “Buy” Rating at Citigroup

Stryker (NYSE:SYK)‘s stock had its “buy” rating reiterated by stock analysts at Citigroup in a report issued on Wednesday, Marketbeat reports. They currently have a $450.00 price objective on the medical technology company’s stock. Citigroup’s price objective points to a potential upside of 15.22% from the company’s current price.

Several other equities analysts also recently commented on SYK. Truist Financial increased their target price on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Canaccord Genuity Group raised their price objective on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. BTIG Research increased their price objective on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. UBS Group boosted their price objective on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI boosted their price objective 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 sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $422.15.

Stryker Price Performance

Shares of NYSE SYK opened at $390.57 on Wednesday. The stock has a market capitalization of $149.03 billion, a price-to-earnings ratio of 50.33, a PEG ratio of 2.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The business has a 50-day moving average of $378.78 and a 200-day moving average of $370.22.

Stryker (NYSE:SYK) last announced 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 13.25% and a return on equity of 23.58%. During the same quarter in the prior year, the business posted $3.46 earnings per share. As a group, sell-side analysts predict that Stryker will post 13.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now owns 14,895 shares in the company, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

A number of hedge funds have recently modified their holdings of SYK. Kohmann Bosshard Financial Services LLC bought a new stake in Stryker during the fourth quarter worth about $25,000. Dunhill Financial LLC lifted its holdings in shares of Stryker by 94.9% during 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. Rakuten Securities Inc. boosted its position in shares of Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after purchasing an additional 68 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Stryker in the 4th quarter worth approximately $30,000. Finally, BankPlus Trust Department purchased a new stake in shares of Stryker in the 4th quarter worth approximately $33,000. Institutional investors own 77.09% of the company’s stock.

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.