Stryker (NYSE:SYK) Price Target Raised to $345.00 at Truist Financial

Stryker (NYSE:SYKFree Report) had its price objective raised by Truist Financial from $330.00 to $345.00 in a research note released on Wednesday morning, Benzinga reports. Truist Financial currently has a hold rating on the medical technology company’s stock.

A number of other research firms have also recently weighed in on SYK. Canaccord Genuity Group raised Stryker from a hold rating to a buy rating and set a $360.00 price target on the stock in a report on Wednesday. Royal Bank of Canada lifted their target price on Stryker from $345.00 to $360.00 and gave the company an outperform rating in a research note on Wednesday. Morgan Stanley increased their price target on Stryker from $300.00 to $320.00 and gave the stock an equal weight rating in a research note on Monday, December 4th. Roth Mkm lifted their price objective on shares of Stryker from $345.00 to $348.00 and gave the company a buy rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their target price on shares of Stryker from $336.00 to $364.00 and gave the company an overweight rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $331.52.

Check Out Our Latest Research Report on Stryker

Stryker Price Performance

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

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

Stryker Increases Dividend

The firm 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. The ex-dividend date was Thursday, December 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. This is a positive change from Stryker’s previous quarterly dividend of $0.75. Stryker’s dividend payout ratio is presently 38.79%.

Insider Activity

In related news, Director Srikant M. Datar sold 750 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $287.57, for a total value of $215,677.50. Following the completion of the sale, the director now directly owns 5,316 shares of the company’s stock, valued at approximately $1,528,722.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Stryker news, Director Srikant M. Datar sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $287.57, for a total value of $215,677.50. Following the transaction, the director now owns 5,316 shares in the company, valued at approximately $1,528,722.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Kevin Lobo sold 56,483 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $287.91, for a total transaction of $16,262,020.53. Following the completion of the sale, the chief executive officer now owns 81,034 shares of the company’s stock, valued at approximately $23,330,498.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,306 shares of company stock worth $16,791,134. 5.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SYK. Freedom Wealth Alliance LLC bought a new stake in shares of Stryker in the 4th quarter valued at approximately $26,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position in Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 61 shares in the last quarter. Quarry LP acquired a new position in shares of Stryker during the 1st quarter worth $27,000. Rise Advisors LLC raised its holdings in shares of Stryker by 692.9% during the 3rd quarter. Rise Advisors LLC now owns 111 shares of the medical technology company’s stock valued at $30,000 after purchasing an additional 97 shares in the last quarter. Finally, Stone House Investment Management LLC acquired a new stake in shares of Stryker in the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 76.24% of the company’s stock.

About Stryker

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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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