Stryker (NYSE:SYK) Earns Outperform Rating from Analysts at Wolfe Research

Wolfe Research assumed coverage on shares of Stryker (NYSE:SYK) in a research note issued to investors on Tuesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $405.00 target price on the medical technology company’s stock.

Several other brokerages also recently commented on SYK. Barclays lifted their target price on Stryker from $374.00 to $402.00 and gave the stock an overweight rating in a report on Thursday, August 1st. BTIG Research lifted their price objective on Stryker from $360.00 to $374.00 and gave the stock a buy rating in a research report on Wednesday, August 28th. Truist Financial lowered their price objective on Stryker from $364.00 to $345.00 and set a hold rating for the company in a research report on Thursday, August 1st. Needham & Company LLC lifted their price objective on Stryker from $392.00 to $393.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada reissued an outperform rating and issued a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $378.58.

Stryker Stock Up 0.4 %

Shares of SYK opened at $367.79 on Tuesday. The company has a market capitalization of $140.11 billion, a PE ratio of 41.99, a PEG ratio of 2.77 and a beta of 0.91. Stryker has a 12 month low of $249.98 and a 12 month high of $368.89. The stock’s 50-day moving average price is $341.61 and its two-hundred day moving average price is $342.38. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

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

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Insider Activity at Stryker

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Stryker news, insider Viju Menon sold 600 shares of the business’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 sale, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s 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 sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The disclosure for this sale can be found here. Insiders sold 210,600 shares of company stock valued at $68,330,400 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Burkett Financial Services LLC purchased a new position in shares of Stryker in the 4th quarter worth approximately $25,000. Centennial Bank AR boosted 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 buying an additional 48 shares during the last quarter. DSM Capital Partners LLC purchased a new position in shares of Stryker in the 4th quarter worth approximately $34,000. Central Pacific Bank Trust Division purchased a new position in shares of Stryker in the 1st quarter worth approximately $39,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of Stryker in the 4th quarter worth approximately $40,000. 77.09% of the stock is owned by 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.