Stryker (NYSE:SYK) Price Target Increased to $372.00 by Analysts at BTIG Research

Stryker (NYSE:SYK) had its target price increased by BTIG Research from $369.00 to $372.00 in a report issued on Monday morning, Benzinga reports. They currently have a buy rating on the medical technology company’s stock.

A number of other research firms have also weighed in on SYK. Morgan Stanley boosted their target price on Stryker from $345.00 to $350.00 and gave the company an equal weight rating in a research note on Monday. Royal Bank of Canada upped their price target on shares of Stryker from $360.00 to $386.00 and gave the stock an outperform rating in a research report on Monday, April 15th. TD Cowen upped their price objective on Stryker from $365.00 to $400.00 and gave the stock a buy rating in a report on Thursday, April 11th. Piper Sandler boosted their price objective on shares of Stryker from $375.00 to $380.00 and gave the company an overweight rating in a research report on Wednesday, May 1st. Finally, Evercore ISI reduced their price target on shares of Stryker from $370.00 to $365.00 and set an outperform rating for the company in a report on Tuesday, July 2nd. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $372.05.

Stryker Stock Down 1.0 %

SYK opened at $331.25 on Monday. Stryker has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The company’s 50-day moving average is $338.10 and its 200 day moving average is $337.17. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99. The firm has a market capitalization of $126.19 billion, a P/E ratio of 37.81, a PEG ratio of 2.63 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The business had revenue of $5.24 billion during 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 was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.14 EPS. Research analysts expect that Stryker will post 11.95 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. Stryker’s dividend payout ratio is presently 36.53%.

Institutional Trading of Stryker

Several large investors have recently modified their holdings of SYK. Burkett Financial Services LLC acquired a new stake in Stryker in the fourth quarter worth about $25,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after buying an additional 61 shares during the period. Rogco LP acquired a new position in Stryker during the fourth quarter valued at $30,000. Central Pacific Bank Trust Division purchased a new stake in Stryker in the 1st quarter worth about $39,000. Finally, DSM Capital Partners LLC acquired a new stake in Stryker during the 4th quarter worth about $34,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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.