Stryker (NYSE:SYK) Price Target Raised to $380.00

Stryker (NYSE:SYK) had its price target raised by Truist Financial from $370.00 to $380.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a hold rating on the medical technology company’s stock.

SYK has been the subject of several other reports. Robert W. Baird increased their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday. Wells Fargo & Company increased their price target on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wolfe Research began coverage on shares of Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective on the stock. Piper Sandler reiterated an “overweight” rating and set a $380.00 target price on shares of Stryker in a research note on Tuesday, September 10th. Finally, Barclays boosted their price target on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Up 3.1 %

Stryker stock opened at $367.15 on Wednesday. The stock’s fifty day moving average is $360.18 and its two-hundred day moving average is $344.31. The stock has a market cap of $139.96 billion, a PE ratio of 39.35, a P/E/G ratio of 2.69 and a beta of 0.91. Stryker has a 1-year low of $266.93 and a 1-year high of $374.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 0.95.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the company posted $2.46 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts expect that Stryker will post 12.06 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Monday, September 30th. Stryker’s dividend payout ratio is currently 34.30%.

Insider Buying and Selling at Stryker

In other news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP M Kathryn Fink sold 2,121 shares of the business’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 value of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the transaction, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 200,068 shares of company stock valued at $65,151,372. Insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

A number of hedge funds have recently made changes to their positions in the company. Koshinski Asset Management Inc. purchased a new stake in Stryker during the 1st quarter worth $795,000. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Stryker by 43.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after acquiring an additional 5,565 shares in the last quarter. Norden Group LLC acquired a new position in shares of Stryker in the first quarter worth about $4,027,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in Stryker by 38.5% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after purchasing an additional 5,502 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Stryker by 78.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after purchasing an additional 58,673 shares during the last quarter. Hedge funds and other institutional investors 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.