Stryker (NYSE:SYK) Price Target Cut to $336.00 by Analysts at Rothschild & Co Redburn

Stryker (NYSE:SYK) had its price objective reduced by equities researchers at Rothschild & Co Redburn from $360.00 to $336.00 in a report issued on Monday. Rothschild & Co Redburn‘s price objective would suggest a potential downside of 0.43% from the company’s current price.

Several other equities analysts have also recently weighed in on SYK. Raymond James Financial reiterated an “outperform” rating and set a $323.00 price objective (down from $370.00) on shares of Stryker in a report on Friday, October 30th. UBS Group began coverage on shares of Stryker in a report on Tuesday, July 28th. They set a “buy” rating and a $400.00 target price on the stock. Wells Fargo & Company cut their price target on shares of Stryker from $418.00 to $348.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Barclays reduced their price target on shares of Stryker from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Friday, October 30th. Finally, Needham & Company LLC dropped their price objective on shares of Stryker from $418.00 to $359.00 and set a “buy” rating on the stock in a report on Friday, October 30th. Twenty-one investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $343.73.

Stryker Trading Up 8.7%

Shares of Stryker stock traded up $26.89 on Monday, hitting $337.44. 2,411,483 shares of the company’s stock traded hands, compared to its average volume of 2,478,378. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.18 and a quick ratio of 1.30. Stryker has a one year low of $267.00 and a one year high of $389.33. The firm’s 50-day moving average price is $292.03 and its two-hundred day moving average price is $324.02. The stock has a market capitalization of $128.46 billion, a PE ratio of 35.96, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, October 29th. The medical technology company reported $3.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.55 by ($0.03). The company had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.62 billion. Stryker had a return on equity of 23.74% and a net margin of 13.78%. Stryker’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted $3.19 EPS. On average, research analysts expect that Stryker will post 14.85 EPS for the current fiscal year.

Insider Buying and Selling at Stryker

In related news, insider Dylan Crotty sold 441 shares of Stryker stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $328.61, for a total transaction of $144,917.01. Following the completion of the sale, the insider owned 6,102 shares of the company’s stock, valued at approximately $2,005,178.22. The trade was a 6.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 300,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $335.90, for a total transaction of $100,770,000.00. Following the completion of the transaction, the director owned 2,301,375 shares in the company, valued at approximately $773,031,862.50. This trade represents a 11.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 351,267 shares of company stock worth $118,197,701 over the last ninety days. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Stryker

A number of institutional investors have recently made changes to their positions in SYK. State Street Corp raised its holdings in shares of Stryker by 1.2% during the second quarter. State Street Corp now owns 15,532,565 shares of the medical technology company’s stock valued at $4,903,772,000 after acquiring an additional 183,400 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Stryker by 0.6% in the 2nd quarter. Wellington Management Group LLP now owns 8,167,185 shares of the medical technology company’s stock worth $2,571,357,000 after purchasing an additional 45,478 shares during the period. Bank of America Corp DE bought a new stake in shares of Stryker during the 2nd quarter valued at about $1,404,284,000. Royal Bank of Canada boosted its stake in shares of Stryker by 6.5% during the 1st quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company’s stock valued at $1,075,552,000 after purchasing an additional 199,863 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Stryker by 21.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,689,376 shares of the medical technology company’s stock valued at $846,723,000 after buying an additional 481,175 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Company Profile

Stryker Corporation (NYSE: SYK) is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company’s product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.