Stryker (NYSE:SYK) Price Target Raised to $420.00

Stryker (NYSE:SYK) had its price objective hoisted by JPMorgan Chase & Co. from $375.00 to $420.00 in a report released on Wednesday, Benzinga reports. The firm currently has an overweight rating on the medical technology company’s stock.

Several other equities analysts have also issued reports on SYK. Wells Fargo & Company boosted their target price on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a research note on Wednesday, July 31st. Piper Sandler reaffirmed an “overweight” rating and set a $380.00 target price on shares of Stryker in a research note on Tuesday, September 10th. Stifel Nicolaus cut their price target on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Evercore ISI raised their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Trading Up 3.1 %

NYSE SYK opened at $367.15 on Wednesday. The firm has a market capitalization of $139.96 billion, a PE ratio of 39.35, a price-to-earnings-growth ratio of 2.69 and a beta of 0.91. The business’s 50-day moving average price is $360.18 and its two-hundred day moving average price is $344.26. The company has a current ratio of 1.91, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. Stryker has a 12 month low of $266.93 and a 12 month high of $374.63.

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

Stryker Dividend Announcement

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

Insider Transactions at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 200,068 shares of company stock worth $65,151,372 in the last quarter. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Stryker

A number of hedge funds have recently made changes to their positions in SYK. Centennial Bank AR increased its holdings in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Stryker during the 1st quarter worth approximately $39,000. Hara Capital LLC bought a new stake in shares of Stryker in the 3rd quarter worth approximately $42,000. HBW Advisory Services LLC bought a new stake in shares of Stryker in the 3rd quarter worth approximately $42,000. Finally, Grove Bank & Trust lifted its stake in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

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.