Stryker Co. (NYSE:SYK) has earned an average recommendation of “Buy” from the twenty-five research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $268.18.
Several equities analysts recently issued reports on SYK shares. Cowen upped their price objective on Stryker from $255.00 to $279.00 and gave the company an “outperform” rating in a research report on Wednesday, April 28th. Morgan Stanley upped their price objective on Stryker from $265.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday, April 28th. Citigroup increased their price target on Stryker from $264.00 to $303.00 in a report on Wednesday, April 28th. Deutsche Bank Aktiengesellschaft increased their price target on Stryker from $251.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, April 28th. Finally, Barclays began coverage on Stryker in a report on Monday, May 24th. They set an “underweight” rating and a $280.00 price target on the stock.
SYK stock opened at $256.66 on Tuesday. The company has a market cap of $96.70 billion, a PE ratio of 69.56, a PEG ratio of 2.92 and a beta of 0.96. Stryker has a 12-month low of $171.75 and a 12-month high of $268.04. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.27 and a quick ratio of 1.39. The company has a 50 day simple moving average of $254.74.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 30th. Shareholders of record on Wednesday, June 30th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, June 29th. This represents a $2.52 dividend on an annualized basis and a yield of 0.98%. Stryker’s payout ratio is presently 33.92%.
In other Stryker news, VP M Kathryn Fink sold 4,000 shares of the stock in a transaction on Thursday, April 8th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin Lobo sold 107,795 shares of the stock in a transaction on Tuesday, May 4th. The stock was sold at an average price of $255.79, for a total value of $27,572,883.05. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Stryker in the fourth quarter worth about $811,698,000. FMR LLC increased its stake in Stryker by 246.1% in the 4th quarter. FMR LLC now owns 4,189,778 shares of the medical technology company’s stock worth $1,026,663,000 after acquiring an additional 2,979,131 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Stryker by 49.4% during the 1st quarter. Ameriprise Financial Inc. now owns 1,762,597 shares of the medical technology company’s stock worth $429,402,000 after acquiring an additional 582,538 shares in the last quarter. FIL Ltd raised its holdings in shares of Stryker by 98.9% during the 4th quarter. FIL Ltd now owns 832,585 shares of the medical technology company’s stock worth $204,017,000 after acquiring an additional 413,950 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Stryker by 1.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,889,733 shares of the medical technology company’s stock worth $7,318,132,000 after acquiring an additional 364,668 shares in the last quarter. Institutional investors and hedge funds own 72.31% of the company’s stock.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical device products that are used in various medical specialties.
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