BTIG Research Trims Stryker (NYSE:SYK) Target Price to $360.00

Stryker (NYSE:SYK) had its price target cut by BTIG Research from $372.00 to $360.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the medical technology company’s stock.

SYK has been the topic of a number of other reports. UBS Group upped their target price on Stryker from $351.00 to $366.00 and gave the stock a neutral rating in a research note on Wednesday. TD Cowen increased their price objective on Stryker from $365.00 to $400.00 and gave the company a buy rating in a research report on Thursday, April 11th. The Goldman Sachs Group started coverage on Stryker in a research report on Thursday, May 30th. They set a neutral rating and a $372.00 price objective on the stock. Morgan Stanley increased their price objective on Stryker from $345.00 to $350.00 and gave the company an equal weight rating in a research report on Monday, July 15th. Finally, Barclays increased their price objective on Stryker from $372.00 to $376.00 and gave the company an overweight rating in a research report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker has an average rating of Moderate Buy and a consensus target price of $373.11.

Stryker Stock Performance

NYSE:SYK opened at $331.56 on Wednesday. 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 has a 52-week low of $249.98 and a 52-week high of $361.41. The firm has a market cap of $126.31 billion, a price-to-earnings ratio of 37.85, a PEG ratio of 2.57 and a beta of 0.89. The business’s fifty day moving average is $338.87 and its 200 day moving average is $339.61.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a return on equity of 23.26% and a net margin of 16.12%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.54 EPS. Research analysts predict that Stryker will post 11.98 EPS for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, June 28th. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Insiders Place Their Bets

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Several institutional investors and hedge funds have recently bought and sold shares of SYK. Assenagon Asset Management S.A. lifted its stake in shares of Stryker by 1.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 8,820 shares of the medical technology company’s stock valued at $2,641,000 after purchasing an additional 103 shares during the period. Pinnacle Financial Partners Inc lifted its stake in shares of Stryker by 6.4% in the 4th quarter. Pinnacle Financial Partners Inc now owns 6,258 shares of the medical technology company’s stock valued at $1,874,000 after purchasing an additional 375 shares during the period. Stonegate Investment Group LLC lifted its stake in shares of Stryker by 12.3% in the 4th quarter. Stonegate Investment Group LLC now owns 1,944 shares of the medical technology company’s stock valued at $582,000 after purchasing an additional 213 shares during the period. DAVENPORT & Co LLC lifted its stake in shares of Stryker by 3.3% in the 4th quarter. DAVENPORT & Co LLC now owns 13,645 shares of the medical technology company’s stock valued at $4,086,000 after purchasing an additional 431 shares during the period. Finally, UMB Bank n.a. lifted its stake in shares of Stryker by 1.0% in the 4th quarter. UMB Bank n.a. now owns 7,844 shares of the medical technology company’s stock valued at $2,349,000 after purchasing an additional 77 shares during the period. Hedge funds and other 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.