Stryker Co. (NYSE:SYK) Receives $340.45 Average Price Target from Analysts

Shares of Stryker Co. (NYSE:SYK) have been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $340.67.

A number of equities research analysts recently issued reports on SYK shares. Wells Fargo & Company upped their target price on Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Evercore ISI upped their target price on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Royal Bank of Canada upped their target price on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and increased their price target for the stock from $315.00 to $360.00 in a research note on Wednesday, January 31st. Finally, Citigroup increased their price target on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd.

Insider Activity

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 212,109 shares of company stock valued at $72,845,768. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

A number of institutional investors have recently modified their holdings of SYK. AE Wealth Management LLC boosted its stake in shares of Stryker by 6.5% during the 3rd quarter. AE Wealth Management LLC now owns 13,679 shares of the medical technology company’s stock valued at $3,738,000 after buying an additional 833 shares during the period. Wedge Capital Management L L P NC lifted its stake in shares of Stryker by 16.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 780 shares of the medical technology company’s stock valued at $213,000 after purchasing an additional 109 shares during the last quarter. Naples Global Advisors LLC lifted its stake in shares of Stryker by 45.7% in the 3rd quarter. Naples Global Advisors LLC now owns 1,608 shares of the medical technology company’s stock valued at $440,000 after purchasing an additional 504 shares during the last quarter. Douglas Lane & Associates LLC lifted its stake in shares of Stryker by 4.1% in the 3rd quarter. Douglas Lane & Associates LLC now owns 1,885 shares of the medical technology company’s stock valued at $515,000 after purchasing an additional 74 shares during the last quarter. Finally, Flagship Harbor Advisors LLC lifted its stake in shares of Stryker by 2.5% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 2,271 shares of the medical technology company’s stock valued at $621,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $337.09 on Tuesday. The stock has a market capitalization of $128.25 billion, a PE ratio of 40.86, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89. Stryker has a 52-week low of $249.98 and a 52-week high of $361.41. The stock’s 50-day moving average price is $349.16 and its 200 day moving average price is $314.40. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. During the same quarter in the previous year, the firm posted $3.00 EPS. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts forecast that Stryker will post 11.86 EPS for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.80 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

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.