Stryker (NYSE:SYK) PT Raised to $383.00 at BTIG Research

Stryker (NYSE:SYK) had its target price raised by BTIG Research from $374.00 to $383.00 in a research report report published on Monday morning, Benzinga reports. BTIG Research currently has a buy rating on the medical technology company’s stock.

SYK has been the subject of several other reports. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Wolfe Research started coverage on shares of Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price for the company. Stifel Nicolaus decreased their target price 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. Morgan Stanley raised their target price on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, Needham & Company LLC raised their target price on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $381.16.

Stryker Price Performance

Shares of SYK opened at $359.76 on Monday. The stock has a market capitalization of $137.05 billion, a P/E ratio of 41.07, a P/E/G ratio of 2.78 and a beta of 0.91. Stryker has a twelve month low of $255.22 and a twelve month high of $374.63. The company has a 50 day moving average of $354.96 and a 200-day moving average of $343.20. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.02. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the business earned $2.54 EPS. As a group, equities research analysts forecast that Stryker will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is currently 36.53%.

Insider Activity

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock valued at $71,811,372 over the last quarter. 5.90% of the stock is owned by company insiders.

Institutional Trading of Stryker

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYK. Chicago Partners Investment Group LLC boosted its holdings in shares of Stryker by 12.0% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,447 shares of the medical technology company’s stock worth $753,000 after buying an additional 263 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Stryker during the 4th quarter worth approximately $748,000. Integrated Advisors Network LLC boosted its holdings in shares of Stryker by 10.6% during the 4th quarter. Integrated Advisors Network LLC now owns 3,342 shares of the medical technology company’s stock worth $1,001,000 after buying an additional 321 shares in the last quarter. Centaurus Financial Inc. boosted its holdings in shares of Stryker by 10.9% during the 4th quarter. Centaurus Financial Inc. now owns 878 shares of the medical technology company’s stock worth $263,000 after buying an additional 86 shares in the last quarter. Finally, Richardson Financial Services Inc. bought a new position in shares of Stryker during the 4th quarter worth approximately $121,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

About Stryker

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.