Stryker (NYSE:SYK) Price Target Raised to $378.00

Stryker (NYSE:SYK) had its price target raised by Robert W. Baird from $367.00 to $378.00 in a research note released on Wednesday, Benzinga reports. They currently have an outperform rating on the medical technology company’s stock.

Other research analysts have also recently issued reports about the stock. Canaccord Genuity Group raised shares of Stryker from a hold rating to a buy rating and set a $360.00 price target on the stock in a research report on Wednesday, January 31st. Roth Mkm upped their price target on Stryker from $345.00 to $348.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Truist Financial boosted their price target on Stryker from $330.00 to $345.00 and gave the stock a hold rating in a research note on Wednesday, January 31st. Citigroup upped their price target on shares of Stryker from $362.00 to $406.00 and gave the company a buy rating in a report on Wednesday, April 3rd. Finally, StockNews.com upgraded Stryker from a hold rating to a buy rating in a research report on Tuesday, January 23rd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Stryker presently has an average rating of Moderate Buy and a consensus target price of $365.94.

Stryker Stock Performance

NYSE SYK opened at $328.45 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 0.97 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $124.97 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 2.63 and a beta of 0.91. The business’s 50-day moving average price is $347.52 and its 200 day moving average price is $316.85. Stryker has a twelve month low of $249.98 and a twelve month high of $361.41.

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

Stryker Announces Dividend

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

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction 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 $1,287,633,391.20. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Burkett Financial Services LLC bought a new position in Stryker during the 4th quarter worth approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in Stryker by 203.3% during 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. Rogco LP bought a new stake in shares of Stryker in the fourth quarter worth about $30,000. DSM Capital Partners LLC acquired a new position in shares of Stryker in the 4th quarter valued at approximately $34,000. Finally, HBC Financial Services PLLC bought a new stake in Stryker during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

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.