Stryker (NYSE:SYK) Hits New 12-Month High at $364.64

Stryker Co. (NYSE:SYK) hit a new 52-week high on Monday . The company traded as high as $364.64 and last traded at $364.51, with a volume of 446139 shares trading hands. The stock had previously closed at $358.92.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SYK shares. Barclays lifted their price objective on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Stifel Nicolaus decreased their target price on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. BTIG Research raised their price objective on shares of Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Evercore ISI reduced their price target on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Finally, The Goldman Sachs Group started coverage on Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price on the stock. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.58.

Stryker Stock Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The company has a market capitalization of $139.61 billion, a price-to-earnings ratio of 41.68, a PEG ratio of 2.77 and a beta of 0.91. The firm’s fifty day simple moving average is $340.21 and its 200 day simple moving average is $342.04.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.02. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. Stryker’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $2.54 earnings per share. On average, sell-side analysts forecast that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.87%. Stryker’s payout ratio is currently 36.53%.

Insider Activity at Stryker

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The disclosure for this sale can be found here. Insiders have sold a total of 210,600 shares of company stock valued at $68,330,400 in the last 90 days. 5.90% of the stock is owned by corporate insiders.

Institutional Trading of Stryker

A number of hedge funds have recently modified their holdings of SYK. Burkett Financial Services LLC bought a new stake in Stryker during the fourth quarter worth $25,000. Centennial Bank AR lifted its stake in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the last quarter. DSM Capital Partners LLC acquired a new stake in shares of Stryker during the 4th quarter valued at $34,000. Central Pacific Bank Trust Division acquired a new position in Stryker in the 1st quarter worth about $39,000. Finally, Private Wealth Management Group LLC acquired a new position in Stryker in the 4th quarter worth about $40,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

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.