Stryker (NYSE:SYK) Given New $427.00 Price Target at The Goldman Sachs Group

Stryker (NYSE:SYK) had its price target upped by The Goldman Sachs Group from $384.00 to $427.00 in a research note published on Thursday,Benzinga reports. They currently have a neutral rating on the medical technology company’s stock.

A number of other research firms have also issued reports on SYK. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. JPMorgan Chase & Co. increased their price target on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday. Piper Sandler reissued an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Barclays increased their price target on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, JMP Securities reissued a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $416.40.

Stryker Stock Down 0.2 %

Shares of NYSE SYK opened at $390.48 on Thursday. The stock’s fifty day moving average is $376.55 and its 200 day moving average is $362.18. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker has a 52 week low of $314.93 and a 52 week high of $406.19. The stock has a market capitalization of $148.86 billion, a P/E ratio of 50.32, a PEG ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.86% and a net margin of 13.25%. During the same period in the prior year, the business posted $3.46 EPS. Sell-side analysts forecast that Stryker will post 13.53 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is 43.30%.

Insider Transactions at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

A number of hedge funds have recently added to or reduced their stakes in the company. Zhang Financial LLC increased its holdings in Stryker by 55.0% in the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock valued at $41,366,000 after buying an additional 40,784 shares in the last quarter. Dale Q Rice Investment Management Ltd acquired a new position in Stryker in the fourth quarter valued at $587,000. Berkshire Bank lifted its holdings in shares of Stryker by 13.8% during the 4th quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock worth $3,056,000 after acquiring an additional 1,030 shares during the period. PFW Advisors LLC acquired a new position in shares of Stryker in the 4th quarter valued at $1,350,000. Finally, Traynor Capital Management Inc. purchased a new stake in Stryker during the fourth quarter valued at about $324,000. 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.