Stryker (NYSE:SYK) Given New $450.00 Price Target at Citigroup

Stryker (NYSE:SYK) had its price target hoisted by stock analysts at Citigroup from $411.00 to $450.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical technology company’s stock. Citigroup’s target price indicates a potential upside of 19.39% from the company’s previous close.

Other analysts also recently issued reports about the stock. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Barclays upped their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Royal Bank of Canada reissued an “outperform” rating and set a $425.00 price objective (up from $400.00) on shares of Stryker in a report on Wednesday. Needham & Company LLC upped their target price on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group boosted their price target on shares of Stryker from $360.00 to $400.00 and gave the company 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 assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $402.70.

Stryker Trading Down 1.5 %

Shares of Stryker stock traded down $5.76 during trading on Wednesday, hitting $376.92. The stock had a trading volume of 631,863 shares, compared to its average volume of 1,259,148. Stryker has a 1 year low of $285.79 and a 1 year high of $398.20. The stock has a 50 day simple moving average of $372.00 and a 200 day simple moving average of $354.36. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $143.69 billion, a PE ratio of 40.40, a P/E/G ratio of 2.90 and a beta of 0.94.

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

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. This trade represents a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,781 shares of company stock worth $24,612,275 over the last three months. Company insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Dunhill Financial LLC boosted its stake in shares of 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 during the last quarter. Centennial Bank AR boosted its stake in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Stryker in the third quarter worth about $36,000. HBW Advisory Services LLC bought a new position in shares of Stryker during the third quarter valued at about $42,000. Finally, Hara Capital LLC bought a new stake in shares of Stryker in the third quarter worth about $42,000. 77.09% of the stock is owned by institutional investors.

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.