Stryker (NYSE:SYK) Price Target Raised to $435.00

Stryker (NYSE:SYK) had its price objective increased by Royal Bank of Canada from $425.00 to $435.00 in a report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the medical technology company’s stock.

Several other brokerages have also recently issued reports on SYK. BTIG Research increased their price objective on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays increased their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Wells Fargo & Company raised their target price on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Wednesday, January 22nd. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $419.37.

Stryker Stock Performance

Shares of Stryker stock opened at $390.90 on Wednesday. The stock has a market capitalization of $149.02 billion, a price-to-earnings ratio of 50.37, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95. 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 50-day moving average of $376.56 and a 200 day moving average of $362.38. Stryker has a 12 month low of $314.93 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.86%. During the same period last year, the business earned $3.46 earnings per share. As a group, sell-side analysts forecast that Stryker will post 13.53 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.84 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is currently 43.30%.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.90% of the stock is currently owned by insiders.

Institutional Trading of Stryker

Several hedge funds and other institutional investors have recently made changes to their positions in SYK. Dunhill Financial LLC boosted its holdings in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares in the last quarter. Centennial Bank AR boosted its stake in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Stryker during the third quarter worth $36,000. Activest Wealth Management purchased a new position in Stryker in the fourth quarter worth $36,000. Finally, Crews Bank & Trust acquired a new stake in Stryker in the fourth quarter valued at $39,000. Hedge funds and other 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.