Truist Financial Raises Stryker (NYSE:SYK) Price Target to $413.00

Stryker (NYSE:SYK) had its target price boosted by Truist Financial from $409.00 to $413.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a hold rating on the medical technology company’s stock.

Several other analysts also recently commented on SYK. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus upped their target price on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Robert W. Baird increased their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group boosted their target price on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $416.40.

Stryker Stock Down 0.2 %

Shares of SYK stock opened at $390.48 on Thursday. Stryker has a 52-week low of $314.93 and a 52-week high of $406.19. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The stock has a market cap of $148.86 billion, a price-to-earnings ratio of 50.32, a PEG ratio of 2.68 and a beta of 0.95. The firm’s 50-day moving average is $376.55 and its 200-day moving average is $362.18.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.86% and a net margin of 13.25%. During the same quarter in the prior year, the company posted $3.46 earnings per share. Sell-side analysts predict that Stryker will post 13.53 EPS for the current year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.86%. Stryker’s dividend payout ratio (DPR) is 43.30%.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers raised its holdings in Stryker by 2.5% in the 2nd quarter. Cetera Investment Advisers now owns 89,948 shares of the medical technology company’s stock valued at $30,605,000 after buying an additional 2,220 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Stryker in the 2nd quarter valued at approximately $19,301,000. Centaurus Financial Inc. raised its stake in shares of Stryker by 11.3% during the second quarter. Centaurus Financial Inc. now owns 1,047 shares of the medical technology company’s stock valued at $356,000 after acquiring an additional 106 shares during the last quarter. Appleton Partners Inc. MA lifted its holdings in shares of Stryker by 0.7% during the third quarter. Appleton Partners Inc. MA now owns 27,822 shares of the medical technology company’s stock worth $10,051,000 after purchasing an additional 182 shares during the period. Finally, American National Bank & Trust lifted its holdings in shares of Stryker by 14.3% during the third quarter. American National Bank & Trust now owns 34,200 shares of the medical technology company’s stock worth $12,355,000 after purchasing an additional 4,281 shares during the period. 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.