Stryker (NYSE:SYK) Price Target Raised to $440.00

Stryker (NYSE:SYK) had its price target boosted by Stifel Nicolaus from $400.00 to $440.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the medical technology company’s stock.

Several other equities analysts also recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $425.00 price target on shares of Stryker in a report on Tuesday, January 7th. Truist Financial increased their price objective on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Piper Sandler restated an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 price target on shares of Stryker in a research report on Wednesday. Finally, StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a report on Wednesday, January 22nd. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $419.37.

Stryker Trading Up 0.1 %

NYSE SYK opened at $390.90 on Wednesday. The stock has a market cap of $149.02 billion, a P/E ratio of 50.37, a P/E/G 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 has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a fifty day simple moving average of $376.56 and a two-hundred day simple moving average of $362.38.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.86% and a net margin of 13.25%. During the same quarter in the previous year, the company posted $3.46 earnings per share. On average, analysts forecast that Stryker will post 13.53 earnings per share for the current year.

Stryker Increases Dividend

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

Insider Activity at Stryker

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

Institutional Investors Weigh In On Stryker

A number of large investors have recently modified their holdings of the business. Dunhill Financial LLC boosted its position in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the last quarter. Centennial Bank AR lifted its stake in Stryker by 106.7% in 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 acquired a new position in shares of Stryker during the 3rd quarter worth approximately $36,000. Activest Wealth Management purchased a new stake in shares of Stryker in the fourth quarter valued at approximately $36,000. Finally, Crews Bank & Trust acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $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.