Stryker (NYSE:SYK) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Stryker (NYSE:SYK) had its price objective upped by Wells Fargo & Company from $427.00 to $435.00 in a report published on Wednesday,Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.

A number of other analysts have also commented on SYK. Barclays boosted their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Evercore ISI lifted their price objective on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Citigroup lifted their target price on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Piper Sandler reiterated an “overweight” rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their price objective on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $413.45.

Stryker Trading Down 1.1 %

NYSE:SYK opened at $390.98 on Wednesday. The business’s 50-day moving average price is $376.44 and its two-hundred day moving average price is $361.98. Stryker has a 1-year low of $314.05 and a 1-year high of $406.19. The firm has a market capitalization of $149.05 billion, a price-to-earnings ratio of 41.91, a PEG 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 (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.07% and a net margin of 16.34%. During the same quarter in the prior year, the firm posted $3.46 EPS. On average, equities analysts expect that Stryker will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is presently 36.01%.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

A number of institutional investors have recently made changes to their positions in SYK. Dunhill Financial LLC raised 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 worth $27,000 after purchasing an additional 37 shares during the last quarter. Centennial Bank AR boosted its position in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new position in Stryker in the third quarter worth approximately $36,000. Activest Wealth Management acquired a new stake in Stryker in the 4th quarter valued at $36,000. Finally, Crews Bank & Trust acquired a new position in shares of Stryker during the fourth quarter valued at about $39,000. Institutional investors own 77.09% of the company’s stock.

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.