Stryker (NYSE:SYK) Reaches New 1-Year High at $361.72

Shares of Stryker Co. (NYSE:SYK) reached a new 52-week high during trading on Tuesday . The company traded as high as $361.72 and last traded at $360.05, with a volume of 75832 shares traded. The stock had previously closed at $360.42.

Analyst Ratings Changes

A number of research analysts recently weighed in on SYK shares. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. The Goldman Sachs Group started coverage on shares of Stryker in a report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 target price on the stock. Evercore ISI decreased their price objective on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Truist Financial reduced their target price on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Finally, Needham & Company LLC increased their price target on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $373.84.

Stryker Price Performance

The company’s 50 day simple moving average is $337.56 and its 200 day simple moving average is $341.60. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $137.78 billion, a PE ratio of 41.14, a PEG ratio of 2.78 and a beta of 0.89.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.79 by $0.02. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.54 EPS. On average, equities analysts anticipate that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.88%. Stryker’s payout ratio is 36.53%.

Insider Transactions at Stryker

In other news, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 $1,072,790,023.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The disclosure for this sale can be found here. In the last three months, insiders have sold 210,600 shares of company stock worth $68,330,400. 5.90% of the stock is currently owned by insiders.

Institutional Trading of Stryker

Several hedge funds and other institutional investors have recently modified their holdings of the company. Burkett Financial Services LLC bought a new stake in shares of Stryker in the 4th quarter valued at approximately $25,000. Centennial Bank AR raised its stake in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares in the last quarter. DSM Capital Partners LLC bought a new stake in shares of Stryker in the 4th quarter valued at approximately $34,000. Central Pacific Bank Trust Division bought a new position in Stryker during the 1st quarter valued at about $39,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Stryker in the fourth quarter valued at about $40,000. 77.09% of the stock is currently 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.