Stryker (NYSE:SYK) Price Target Raised to $369.00

Stryker (NYSE:SYK) had its target price boosted by BTIG Research from $366.00 to $369.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the medical technology company’s stock.

Several other research firms also recently issued reports on SYK. Roth Mkm upped their price target on Stryker from $345.00 to $348.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Canaccord Genuity Group raised Stryker from a hold rating to a buy rating and set a $360.00 target price for the company in a research report on Wednesday, January 31st. Wells Fargo & Company increased their price target on Stryker from $336.00 to $364.00 and gave the company an overweight rating in a report on Wednesday, January 31st. Royal Bank of Canada boosted their price objective on shares of Stryker from $360.00 to $386.00 and gave the stock an outperform rating in a research note on Monday, April 15th. Finally, StockNews.com upgraded shares of Stryker from a hold rating to a buy rating in a research note on Tuesday, January 23rd. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $365.94.

Stryker Stock Performance

SYK stock opened at $328.45 on Wednesday. The firm has a 50 day simple moving average of $347.52 and a 200 day simple moving average of $316.85. Stryker has a 52 week low of $249.98 and a 52 week high of $361.41. The stock has a market cap of $124.97 billion, a P/E ratio of 37.49, a P/E/G ratio of 2.63 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.97 and a current ratio of 1.71.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the business earned $2.14 EPS. Research analysts anticipate that Stryker will post 11.93 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were given a $0.80 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. Stryker’s payout ratio is 36.53%.

Insider Buying and Selling

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,317,414. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction 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 directly owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Stryker

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Burkett Financial Services LLC acquired a new position in shares of Stryker in the fourth quarter valued at $25,000. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after buying an additional 61 shares during the last quarter. Rogco LP bought a new position in Stryker in the 4th quarter valued at about $30,000. DSM Capital Partners LLC acquired a new stake in Stryker during the fourth quarter worth approximately $34,000. Finally, HBC Financial Services PLLC bought a new stake in shares of Stryker during the fourth quarter worth approximately $37,000. 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.