Stryker Co. (NYSE:SYK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Stryker Co. (NYSE:SYK) have earned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $378.58.

SYK has been the topic of several research reports. Truist Financial reduced their target price on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. The Goldman Sachs Group started coverage on shares of Stryker in a research report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective on the stock. Wolfe Research initiated coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $386.00 price target on shares of Stryker in a research note on Wednesday, July 31st. Finally, Needham & Company LLC lifted their price objective on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st.

Stryker Trading Up 0.5 %

Shares of SYK stock opened at $361.38 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The firm has a fifty day moving average price of $346.93 and a 200-day moving average price of $343.01. The company has a market cap of $137.67 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.79 and a beta of 0.91. Stryker has a 1 year low of $249.98 and a 1 year high of $374.63.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the business posted $2.54 EPS. Stryker’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities analysts predict that Stryker will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 36.53%.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,068 shares of company stock worth $71,811,372. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Institutional investors have recently modified their holdings of the stock. Centaurus Financial Inc. boosted its holdings in Stryker by 11.3% in the 2nd quarter. Centaurus Financial Inc. now owns 1,047 shares of the medical technology company’s stock worth $356,000 after buying an additional 106 shares during the last quarter. Heritage Wealth Management Inc. purchased a new stake in shares of Stryker during the second quarter worth approximately $1,206,000. Sanctuary Advisors LLC acquired a new position in Stryker in the 2nd quarter valued at $19,301,000. Clear Rock Advisors LLC boosted its stake in Stryker by 1.4% during the 2nd quarter. Clear Rock Advisors LLC now owns 10,426 shares of the medical technology company’s stock worth $3,547,000 after purchasing an additional 140 shares during the last quarter. Finally, Centennial Bank AR raised its position 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 during the last quarter. Institutional investors and hedge funds 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.