Stryker (NYSE:SYK) Price Target Raised to $456.00 at Wells Fargo & Company

Stryker (NYSE:SYK) had its price objective boosted by Wells Fargo & Company from $452.00 to $456.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the medical technology company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 24.48% from the company’s current price.

A number of other research analysts also recently issued reports on SYK. BTIG Research reaffirmed a “buy” rating and issued a $410.00 price objective on shares of Stryker in a research report on Friday. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Stryker in a report on Monday, November 3rd. UBS Group set a $408.00 price objective on Stryker in a research report on Monday, October 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $448.00 target price on shares of Stryker in a research report on Friday. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $433.95.

Stryker Stock Down 1.9%

Shares of NYSE:SYK traded down $7.09 on Friday, reaching $366.33. The company had a trading volume of 827,201 shares, compared to its average volume of 1,438,445. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $140.09 billion, a PE ratio of 48.53, a PEG ratio of 2.66 and a beta of 0.94. Stryker has a 52-week low of $329.16 and a 52-week high of $406.19. The firm’s 50 day simple moving average is $372.55 and its 200-day simple moving average is $381.18.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, October 30th. The medical technology company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.13 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. During the same quarter last year, the company earned $2.87 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. As a group, analysts expect that Stryker will post 13.47 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Viju Menon sold 500 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the transaction, the insider directly owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 276,173 shares of Stryker stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the sale, the director directly owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. This trade represents a 9.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 520,500 shares of company stock worth $184,803,065. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SYK. Norges Bank acquired a new stake in Stryker in the second quarter valued at approximately $1,882,173,000. Alliancebernstein L.P. raised its holdings in Stryker by 307.6% in the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after acquiring an additional 4,223,366 shares during the last quarter. Nuveen LLC purchased a new position in Stryker during the first quarter worth approximately $558,075,000. Corient Private Wealth LLC raised its holdings in shares of Stryker by 104.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after acquiring an additional 1,146,998 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Stryker by 9.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock worth $4,515,847,000 after purchasing an additional 1,021,496 shares during the period. 77.09% of the stock is currently owned by hedge funds and other 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.