Stryker Co. (NYSE:SYK) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Stryker Co. (NYSE:SYK) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $370.58.

Several brokerages recently commented on SYK. Wells Fargo & Company upped their price target on shares of Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Roth Mkm increased their target price on Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Piper Sandler boosted their price target on Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Needham & Company LLC upgraded Stryker from a “hold” rating to a “buy” rating and set a $392.00 price target for the company in a research note on Wednesday, May 22nd. Finally, Citigroup lifted their price objective on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd.

Stryker Trading Up 0.6 %

Shares of SYK opened at $344.98 on Wednesday. Stryker has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The stock has a fifty day moving average of $336.88 and a two-hundred day moving average of $330.40. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. The company has a market capitalization of $131.42 billion, a PE ratio of 39.38, a price-to-earnings-growth ratio of 2.72 and a beta of 0.92.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.14 earnings per share. As a group, analysts forecast that Stryker will post 11.95 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, June 28th. Stryker’s payout ratio is 36.53%.

Hedge Funds Weigh In On Stryker

Several institutional investors and hedge funds have recently made changes to their positions in the business. Carnegie Capital Asset Management LLC grew its holdings in Stryker by 0.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock worth $28,820,000 after acquiring an additional 497 shares in the last quarter. Atlantic Edge Private Wealth Management LLC bought a new stake in Stryker in the fourth quarter valued at about $1,561,000. CoreCap Advisors LLC increased its holdings in Stryker by 3.9% in the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock valued at $1,506,000 after buying an additional 191 shares during the last quarter. Consolidated Planning Corp acquired a new stake in Stryker during the fourth quarter valued at approximately $205,000. Finally, Meritage Portfolio Management bought a new position in Stryker during the 4th quarter worth approximately $569,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

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.