Wells Fargo & Company Raises Stryker (NYSE:SYK) Price Target to $381.00

Stryker (NYSE:SYK) had its price target hoisted by Wells Fargo & Company from $364.00 to $381.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.

A number of other equities analysts also recently weighed in on SYK. StockNews.com raised shares of Stryker from a hold rating to a buy rating in a research note on Tuesday, January 23rd. 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 report on Monday, April 15th. Canaccord Genuity Group upgraded Stryker from a hold rating to a buy rating and lifted their target price for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. UBS Group raised their price objective on shares of Stryker from $339.00 to $351.00 and gave the stock a neutral rating in a research report on Wednesday. Finally, Needham & Company LLC reissued a hold rating on shares of Stryker in a research note on Wednesday. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $365.94.

Stryker Trading Up 0.6 %

SYK opened at $328.45 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.97. Stryker has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The company’s 50 day moving average price is $347.52 and its two-hundred day moving average price is $316.85. The firm has a market capitalization of $124.97 billion, a price-to-earnings ratio of 37.49, a PEG ratio of 2.63 and a beta of 0.91.

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

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Transactions at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated 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 directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction on 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 sale, the director now directly owns 3,755,128 shares in the company, 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 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 sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Burkett Financial Services LLC bought a new position in Stryker during the fourth quarter valued at $25,000. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of Stryker by 203.3% during the 4th 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 during the period. Rogco LP purchased a new stake in Stryker in the 4th quarter worth about $30,000. DSM Capital Partners LLC bought a new stake in Stryker in the 4th quarter valued at about $34,000. Finally, HBC Financial Services PLLC bought a new position in Stryker during the fourth quarter worth about $37,000. 77.09% of the stock is owned by institutional investors.

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.