Stryker (NYSE:SYK) Price Target Raised to $372.00

Stryker (NYSE:SYK) had its target price upped by BTIG Research from $369.00 to $372.00 in a research note released on Monday morning, Benzinga reports. BTIG Research currently has a buy rating on the medical technology company’s stock.

A number of other equities analysts also recently weighed in on the stock. Piper Sandler lifted their target price on shares of Stryker from $375.00 to $380.00 and gave the stock an overweight rating in a research note on Wednesday, May 1st. StockNews.com raised shares of Stryker from a hold rating to a buy rating in a research note on Thursday, July 11th. TD Cowen lifted their target price on shares of Stryker from $365.00 to $400.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Stifel Nicolaus lifted their target price on shares of Stryker from $350.00 to $375.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada raised their price target on shares of Stryker from $360.00 to $386.00 and gave the stock an outperform rating in a report on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Stryker currently has an average rating of Moderate Buy and an average target price of $372.05.

Stryker Price Performance

SYK stock opened at $334.64 on Monday. The company has a fifty day moving average price of $338.09 and a 200-day moving average price of $337.21. The company has a market capitalization of $127.48 billion, a P/E ratio of 38.20, a PEG ratio of 2.59 and a beta of 0.89. Stryker has a 52-week low of $249.98 and a 52-week high of $361.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter last year, the firm earned $2.14 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities analysts expect that Stryker will post 11.95 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, June 28th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Institutional Trading of Stryker

Several hedge funds have recently added to or reduced their stakes in SYK. Burkett Financial Services LLC bought a new stake in Stryker in the fourth quarter worth about $25,000. Farmers & Merchants Trust Co of Chambersburg PA raised its position in Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 61 shares during the period. Rogco LP bought a new stake in Stryker in the fourth quarter worth about $30,000. DSM Capital Partners LLC bought a new stake in Stryker in the fourth quarter worth about $34,000. Finally, HBC Financial Services PLLC bought a new stake in Stryker in the fourth quarter worth about $37,000. 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.