Stryker (NYSE:SYK) Given New $364.00 Price Target at Wells Fargo & Company

Stryker (NYSE:SYKFree Report) had its price target lifted by Wells Fargo & Company from $336.00 to $364.00 in a research report released on Wednesday, Benzinga reports. The firm currently has an overweight rating on the medical technology company’s stock.

Several other analysts have also issued reports on the stock. Truist Financial boosted their target price on shares of Stryker from $300.00 to $320.00 and gave the company a hold rating in a research report on Friday, December 22nd. Royal Bank of Canada boosted their price objective on shares of Stryker from $315.00 to $345.00 and gave the company an outperform rating in a research report on Friday, January 12th. Roth Mkm reiterated a buy rating and set a $345.00 target price on shares of Stryker in a research report on Thursday, November 9th. StockNews.com upgraded Stryker from a hold rating to a buy rating in a research report on Tuesday, January 23rd. Finally, Morgan Stanley boosted their price objective on Stryker from $300.00 to $320.00 and gave the company an equal weight rating in a research note on Monday, December 4th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stryker currently has a consensus rating of Moderate Buy and an average price target of $331.52.

Get Our Latest Research Report on SYK

Stryker Price Performance

Shares of SYK opened at $335.37 on Wednesday. The firm has a fifty day simple moving average of $301.05 and a two-hundred day simple moving average of $287.11. The firm has a market cap of $127.40 billion, a PE ratio of 40.65, a P/E/G ratio of 2.69 and a beta of 0.92. The company has a current ratio of 1.48, a quick ratio of 0.83 and a debt-to-equity ratio of 0.58. Stryker has a 1-year low of $248.96 and a 1-year high of $342.80.

Stryker (NYSE:SYKGet Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. Stryker had a return on equity of 23.39% and a net margin of 15.44%. Stryker’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.00 earnings per share. On average, equities analysts anticipate that Stryker will post 11.54 EPS for the current year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.95%. This is a boost from Stryker’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, December 28th. Stryker’s payout ratio is 38.79%.

Insider Activity at Stryker

In other Stryker news, Director Srikant M. Datar sold 750 shares of Stryker stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $287.57, for a total value of $215,677.50. Following the sale, the director now owns 5,316 shares of the company’s stock, valued at approximately $1,528,722.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Srikant M. Datar sold 750 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $287.57, for a total transaction of $215,677.50. Following the sale, the director now owns 5,316 shares of the company’s stock, valued at $1,528,722.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO William E. Berry, Jr. sold 573 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $292.28, for a total transaction of $167,476.44. Following the transaction, the chief accounting officer now owns 2,909 shares of the company’s stock, valued at approximately $850,242.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,306 shares of company stock valued at $16,791,134. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Large investors have recently added to or reduced their stakes in the stock. Aviance Capital Partners LLC raised its holdings in Stryker by 3.7% during the 2nd quarter. Aviance Capital Partners LLC now owns 2,096 shares of the medical technology company’s stock valued at $639,000 after buying an additional 75 shares during the period. Andra AP fonden raised its stake in shares of Stryker by 28.8% in the second quarter. Andra AP fonden now owns 30,422 shares of the medical technology company’s stock valued at $9,281,000 after acquiring an additional 6,800 shares during the period. Farmers & Merchants Investments Inc. lifted its holdings in shares of Stryker by 1.7% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 45,608 shares of the medical technology company’s stock worth $13,915,000 after acquiring an additional 750 shares during the last quarter. Merit Financial Group LLC boosted its stake in shares of Stryker by 28.2% during the 2nd quarter. Merit Financial Group LLC now owns 3,429 shares of the medical technology company’s stock worth $1,046,000 after purchasing an additional 755 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its holdings in Stryker by 5.5% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 28,282 shares of the medical technology company’s stock valued at $8,649,000 after purchasing an additional 1,463 shares during the last quarter. 76.24% of the stock is owned by institutional investors.

Stryker Company Profile

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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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

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Analyst Recommendations for Stryker (NYSE:SYK)

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