Stryker (NYSE:SYK) Price Target Raised to $394.00

Stryker (NYSE:SYK) had its price objective lifted by BTIG Research from $383.00 to $394.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the medical technology company’s stock.

A number of other research analysts have also weighed in on SYK. Stifel Nicolaus reduced their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Canaccord Genuity Group boosted their price objective on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday. Truist Financial raised their target price on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday. Morgan Stanley lifted their target price on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Finally, Wells Fargo & Company increased their price target on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Price Performance

Shares of NYSE SYK opened at $367.15 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $139.96 billion, a PE ratio of 39.35, a PEG ratio of 2.69 and a beta of 0.91. The stock’s 50 day moving average price is $360.18 and its 200-day moving average price is $344.26. Stryker has a twelve month low of $266.93 and a twelve month high of $374.63.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the firm earned $2.46 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. On average, equities analysts anticipate that Stryker will post 12.06 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a dividend of $0.80 per share. The ex-dividend date was Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.87%. Stryker’s dividend payout ratio (DPR) is currently 34.30%.

Insider Transactions at Stryker

In related news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 200,068 shares of company stock worth $65,151,372. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

Several hedge funds and other institutional investors have recently modified their holdings of SYK. Centennial Bank AR raised its position in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Stryker during the first quarter valued at approximately $39,000. Hara Capital LLC bought a new position in shares of Stryker during the third quarter valued at approximately $42,000. HBW Advisory Services LLC purchased a new stake in Stryker in the third quarter worth $42,000. Finally, Grove Bank & Trust lifted its stake in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 56 shares during the period. 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.