Evercore ISI Boosts Stryker (NYSE:SYK) Price Target to $380.00

Stryker (NYSE:SYK) had its target price hoisted by Evercore ISI from $365.00 to $380.00 in a research note published on Tuesday, Benzinga reports. They currently have an outperform rating on the medical technology company’s stock.

A number of other analysts have also recently commented on the stock. Piper Sandler reaffirmed an overweight rating and set a $380.00 target price on shares of Stryker in a report on Tuesday, September 10th. Truist Financial reduced their price objective on shares of Stryker from $364.00 to $345.00 and set a hold rating for the company in a research note on Thursday, August 1st. Needham & Company LLC increased their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a buy rating in a research note on Thursday, August 1st. UBS Group increased their price objective on shares of Stryker from $351.00 to $366.00 and gave the stock a neutral rating in a research note on Wednesday, July 31st. Finally, StockNews.com cut shares of Stryker from a buy rating to a hold rating in a research note on Monday, September 16th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $379.37.

Stryker Stock Down 1.0 %

Shares of SYK stock opened at $351.61 on Tuesday. Stryker has a 12 month low of $249.98 and a 12 month high of $374.63. The stock has a market cap of $133.95 billion, a P/E ratio of 40.14, a P/E/G ratio of 2.78 and a beta of 0.91. 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 company has a 50 day simple moving average of $349.38 and a two-hundred day simple moving average of $343.18.

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

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.91%. Stryker’s payout ratio is currently 36.53%.

Insider Transactions at Stryker

In other news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction dated 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 owns 2,852 shares of the company’s stock, valued at approximately $949,716. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Stryker

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYK. Centennial Bank AR raised its holdings 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 valued at $32,000 after purchasing an additional 48 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Stryker in the 1st quarter valued at about $39,000. Accent Capital Management LLC bought a new stake in shares of Stryker in the 4th quarter valued at about $60,000. Sachetta LLC grew its position in shares of Stryker by 16.3% in the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after buying an additional 34 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. grew its position in shares of Stryker by 17.9% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock worth $94,000 after buying an additional 40 shares during the last quarter. 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.