Analysts Set Stryker Co. (NYSE:SYK) Target Price at $340.45

Stryker Co. (NYSE:SYK) has received an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $340.67.

Several research firms recently commented on SYK. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and lifted their target price for the stock from $315.00 to $360.00 in a research report on Wednesday, January 31st. Roth Mkm increased their price objective on Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Truist Financial raised their target price on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. Citigroup upped their price target on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective for the company in a research report on Wednesday, January 31st.

Insider Activity

In related news, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the transaction, the director now directly owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the transaction, the director now owns 14,242 shares in the company, valued at $4,856,522. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Insiders sold a total of 212,109 shares of company stock worth $72,845,768 in the last three months. Company insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. AE Wealth Management LLC boosted its holdings in Stryker by 6.5% during the 3rd quarter. AE Wealth Management LLC now owns 13,679 shares of the medical technology company’s stock worth $3,738,000 after acquiring an additional 833 shares during the last quarter. Wedge Capital Management L L P NC grew its position in Stryker by 16.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 780 shares of the medical technology company’s stock worth $213,000 after purchasing an additional 109 shares in the last quarter. Naples Global Advisors LLC increased its stake in Stryker by 45.7% in the 3rd quarter. Naples Global Advisors LLC now owns 1,608 shares of the medical technology company’s stock valued at $440,000 after buying an additional 504 shares during the last quarter. Douglas Lane & Associates LLC lifted its position in shares of Stryker by 4.1% during the 3rd quarter. Douglas Lane & Associates LLC now owns 1,885 shares of the medical technology company’s stock worth $515,000 after buying an additional 74 shares in the last quarter. Finally, Flagship Harbor Advisors LLC lifted its position in shares of Stryker by 2.5% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 2,271 shares of the medical technology company’s stock worth $621,000 after buying an additional 55 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 1.0 %

NYSE SYK opened at $338.97 on Tuesday. The company has a market cap of $128.97 billion, a price-to-earnings ratio of 41.09, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89. Stryker has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The business’s fifty day moving average is $348.68 and its 200 day moving average is $316.14.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. During the same period last year, the firm posted $3.00 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, sell-side analysts expect that Stryker will post 11.86 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 annualized dividend and a dividend yield of 0.94%. Stryker’s dividend payout ratio is currently 38.79%.

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.