UBS Group Issues Positive Forecast for Stryker (NYSE:SYK) Stock Price

Stryker (NYSE:SYK) had its target price raised by UBS Group from $366.00 to $370.00 in a report published on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the medical technology company’s stock.

A number of other equities analysts have also commented on the stock. 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. Barclays raised their price target on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Truist Financial upped their price objective on Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Evercore ISI raised their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Morgan Stanley boosted their target price on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Trading Up 3.1 %

Stryker stock opened at $367.15 on Wednesday. The stock has a market cap of $139.96 billion, a P/E ratio of 39.35, a PEG ratio of 2.69 and a beta of 0.91. Stryker has a fifty-two week low of $266.93 and a fifty-two week high of $374.63. The firm’s fifty day moving average price is $360.18 and its 200-day moving average price is $344.31. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 1.91.

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

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a $0.80 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. Stryker’s payout ratio is presently 34.30%.

Insider Buying and Selling at Stryker

In other news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction dated 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 in the company, 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. Insiders sold 200,068 shares of company stock valued at $65,151,372 in the last 90 days. Insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norden Group LLC bought a new stake in shares of Stryker during the first quarter valued at approximately $4,027,000. Kovack Advisors Inc. bought a new stake in shares of Stryker during the 1st quarter valued at $224,000. New Century Financial Group LLC purchased a new stake in shares of Stryker in the 1st quarter worth about $220,000. Maryland State Retirement & Pension System increased its stake in shares of Stryker by 0.9% in the 1st quarter. Maryland State Retirement & Pension System now owns 27,892 shares of the medical technology company’s stock worth $9,347,000 after acquiring an additional 236 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted its position in Stryker by 6.8% during the 1st quarter. J.W. Cole Advisors Inc. now owns 2,606 shares of the medical technology company’s stock valued at $933,000 after acquiring an additional 166 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.