Stryker (NYSE:SYK) Price Target Raised to $409.00

Stryker (NYSE:SYK) had its price target hoisted by Truist Financial from $380.00 to $409.00 in a report issued on Wednesday,Benzinga reports. They currently have a hold rating on the medical technology company’s stock.

Several other research analysts also recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $425.00 price objective (up from $400.00) on shares of Stryker in a report on Wednesday, December 11th. Wolfe Research assumed coverage on Stryker in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target for the company. Canaccord Genuity Group boosted their price objective on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays raised their target price on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $405.80.

Stryker Stock Performance

NYSE:SYK opened at $364.60 on Wednesday. Stryker has a 1 year low of $288.90 and a 1 year high of $398.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The business has a fifty day simple moving average of $374.66 and a two-hundred day simple moving average of $355.78. The company has a market capitalization of $138.99 billion, a P/E ratio of 39.08, a P/E/G ratio of 2.82 and a beta of 0.94.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.46 EPS. On average, analysts expect that Stryker will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s dividend payout ratio is presently 36.01%.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.90% of the stock is currently owned by insiders.

Institutional Trading of Stryker

Institutional investors have recently added to or reduced their stakes in the business. Dunhill Financial LLC boosted its holdings in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the period. Centennial Bank AR boosted its stake in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Stryker in the third quarter worth approximately $36,000. HBW Advisory Services LLC bought a new position in shares of Stryker in the third quarter worth approximately $42,000. Finally, Hara Capital LLC bought a new stake in Stryker during the 3rd quarter valued at $42,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

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.