Stryker’s (SYK) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Stryker (NYSE:SYK) in a research note released on Wednesday,Benzinga reports. They currently have a $442.00 price target on the medical technology company’s stock.

SYK has been the topic of several other reports. Canaccord Genuity Group upped their price target on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Piper Sandler reissued an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Finally, UBS Group boosted their target price on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average target price of $419.37.

Stryker Trading Up 0.1 %

Shares of NYSE:SYK opened at $390.90 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker has a 52-week low of $314.93 and a 52-week high of $406.19. The stock has a market cap of $149.02 billion, a price-to-earnings ratio of 50.37, a PEG ratio of 2.68 and a beta of 0.95. The business has a 50-day moving average price of $376.56 and a 200-day moving average price of $362.38.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm posted $3.46 earnings per share. Equities analysts predict that Stryker will post 13.53 EPS for the current year.

Stryker Increases Dividend

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Dunhill Financial LLC lifted 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 buying an additional 37 shares in the last quarter. Centennial Bank AR increased its stake in shares of 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 acquiring an additional 48 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Stryker during the 3rd quarter worth $36,000. Activest Wealth Management acquired a new position in shares of Stryker during the 4th quarter valued at about $36,000. Finally, Crews Bank & Trust purchased a new stake in shares of Stryker in the fourth quarter valued at about $39,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

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.