Stryker (NYSE:SYK) Reaches New 12-Month High at $374.63

Stryker Co. (NYSE:SYK)’s share price reached a new 52-week high on Monday . The stock traded as high as $374.63 and last traded at $372.98, with a volume of 50842 shares changing hands. The stock had previously closed at $370.25.

Analyst Ratings Changes

SYK has been the topic of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $386.00 price objective on shares of Stryker in a report on Wednesday, July 31st. Needham & Company LLC upped 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. UBS Group boosted their price objective on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. BTIG Research lifted their target price on Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, Piper Sandler reiterated an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research note on Tuesday, September 10th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $378.58.

Stryker Price Performance

The company’s 50-day moving average is $343.60 and its two-hundred day moving average is $342.61. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The firm has a market cap of $138.71 billion, a P/E ratio of 41.55, a PEG ratio of 2.87 and a beta of 0.91.

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

Stryker Dividend Announcement

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. This represents a $3.20 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Insider Transactions at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Viju Menon sold 600 shares of the stock in a transaction on 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 of the company’s stock, valued at $3,219,495. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Precision Wealth Strategies LLC raised its stake in shares of Stryker by 2.1% during the fourth quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock valued at $933,000 after acquiring an additional 65 shares during the last quarter. Gryphon Financial Partners LLC acquired a new position in Stryker during the 4th quarter worth about $348,000. Level Four Advisory Services LLC grew its position in shares of Stryker by 31.0% in the 4th quarter. Level Four Advisory Services LLC now owns 1,204 shares of the medical technology company’s stock valued at $361,000 after buying an additional 285 shares during the last quarter. TrinityPoint Wealth LLC increased its stake in shares of Stryker by 2.5% in the fourth quarter. TrinityPoint Wealth LLC now owns 2,841 shares of the medical technology company’s stock valued at $851,000 after buying an additional 70 shares during the period. Finally, Gladstone Institutional Advisory LLC raised its position in shares of Stryker by 10.3% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 1,798 shares of the medical technology company’s stock worth $539,000 after acquiring an additional 168 shares during the last quarter. Institutional investors and hedge funds 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.