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

Shares of Stryker Co. (NYSE:SYK) have earned a consensus rating of “Moderate Buy” from the twenty-one analysts that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $405.80.

SYK has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. UBS Group boosted their target price on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. BTIG Research lifted their price target on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada restated an “outperform” rating and issued a $425.00 price objective on shares of Stryker in a report on Tuesday, January 7th. Finally, Evercore ISI lifted their target price on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

A number of hedge funds and other institutional investors have recently bought and sold shares of SYK. Parnassus Investments LLC acquired a new position in Stryker in the 3rd quarter valued at about $762,798,000. International Assets Investment Management LLC lifted its stake in shares of Stryker by 66,967.5% during the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after purchasing an additional 852,496 shares during the period. RTW Investments LP purchased a new stake in shares of Stryker in the third quarter valued at $143,392,000. State Street Corp increased its stake in Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after purchasing an additional 316,404 shares during the last quarter. Finally, FMR LLC boosted its stake in Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after buying an additional 215,782 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Up 1.4 %

SYK stock opened at $399.83 on Thursday. The company’s 50 day moving average is $376.11 and its 200 day moving average is $361.15. The stock has a market cap of $152.42 billion, a price-to-earnings ratio of 42.85, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker has a 1-year low of $310.74 and a 1-year high of $400.34.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.46 earnings per share. Sell-side analysts predict that Stryker will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.84%. Stryker’s dividend payout ratio is currently 36.01%.

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.