Stryker (NYSE:SYK) Price Target Raised to $418.00

Stryker (NYSE:SYK) had its price target upped by Barclays from $402.00 to $418.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the medical technology company’s stock.

A number of other research firms have also commented on SYK. Wells Fargo & Company lifted their price objective on Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday. Robert W. Baird boosted their price target on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday. Stifel Nicolaus decreased their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Canaccord Genuity Group increased their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Trading Up 3.1 %

SYK opened at $367.15 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 0.95. Stryker has a fifty-two week low of $266.93 and a fifty-two week high of $374.63. The company’s 50 day moving average price is $360.18 and its two-hundred day moving average price is $344.31. The firm has a market capitalization of $139.96 billion, a price-to-earnings ratio of 39.35, a PEG ratio of 2.69 and a beta of 0.91.

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

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.87%. Stryker’s payout ratio is 34.30%.

Insider Buying and Selling at Stryker

In related news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the sale, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’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 transaction, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,068 shares of company stock valued at $65,151,372. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Several institutional investors have recently made changes to their positions in SYK. Koshinski Asset Management Inc. purchased a new position in shares of Stryker in the 1st quarter worth approximately $795,000. Envestnet Portfolio Solutions Inc. grew its stake in Stryker by 43.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after purchasing an additional 5,565 shares during the period. Norden Group LLC purchased a new stake in shares of Stryker during the 1st quarter valued at $4,027,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Stryker by 38.5% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock worth $7,084,000 after purchasing an additional 5,502 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Stryker by 78.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after buying an additional 58,673 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

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.