Citigroup Reiterates Buy Rating for Stryker (NYSE:SYK)

Citigroup reaffirmed their buy rating on shares of Stryker (NYSE:SYK) in a report published on Wednesday morning, Marketbeat Ratings reports. The firm currently has a $450.00 price objective on the medical technology company’s stock.

A number of other equities research analysts have also recently commented on the company. Evercore ISI increased their target price on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Canaccord Genuity Group increased their target price on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. BTIG Research increased their price target on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group increased their price target on Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Finally, Argus set a $450.00 price target on Stryker in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $422.15.

Stryker Price Performance

Shares of NYSE:SYK opened at $391.54 on Wednesday. The business’s fifty day moving average price is $379.42 and its two-hundred day moving average price is $370.37. The stock has a market cap of $149.40 billion, a PE ratio of 50.46, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker has a one year low of $314.93 and a one year high of $406.19.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the previous year, the firm posted $3.46 EPS. On average, analysts forecast that Stryker will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. J. W. Coons Advisors LLC grew its stake in shares of Stryker by 0.7% during the fourth quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company’s stock valued at $1,315,000 after acquiring an additional 26 shares in the last quarter. Mascoma Wealth Management LLC grew its stake in shares of Stryker by 22.7% during the fourth quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company’s stock valued at $53,000 after acquiring an additional 27 shares in the last quarter. Opal Wealth Advisors LLC grew its stake in shares of Stryker by 1.6% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company’s stock valued at $654,000 after acquiring an additional 28 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of Stryker by 2.0% during the fourth quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company’s stock valued at $507,000 after acquiring an additional 28 shares in the last quarter. Finally, Alhambra Investment Management LLC grew its stake in shares of Stryker by 1.5% during the fourth quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock valued at $719,000 after acquiring an additional 29 shares in the last quarter. 77.09% of the stock is 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.