Stifel Nicolaus Raises Stryker (NYSE:SYK) Price Target to $375.00

Stryker (NYSE:SYK) had its price target boosted by Stifel Nicolaus from $350.00 to $375.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the medical technology company’s stock.

A number of other research analysts have also weighed in on SYK. Robert W. Baird increased their price objective on Stryker from $367.00 to $378.00 and gave the company an outperform rating in a report on Wednesday. Wells Fargo & Company lifted their price objective on shares of Stryker from $336.00 to $364.00 and gave the company an overweight rating in a research note on Wednesday, January 31st. Royal Bank of Canada increased 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. Truist Financial boosted their target price on shares of Stryker from $330.00 to $345.00 and gave the company a hold rating in a research report on Wednesday, January 31st. Finally, Evercore ISI increased their price target on Stryker from $340.00 to $370.00 and gave the stock an outperform rating in a research report on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $365.94.

Stryker Stock Up 0.6 %

Stryker stock opened at $328.45 on Wednesday. The business has a fifty day moving average price of $346.99 and a 200-day moving average price of $317.29. Stryker has a 1-year low of $249.98 and a 1-year high of $361.41. The stock has a market capitalization of $125.12 billion, a price-to-earnings ratio of 37.49, a PEG ratio of 2.55 and a beta of 0.91. 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 (NYSE:SYK) last released its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS 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 analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $2.14 EPS. Equities research analysts forecast that Stryker will post 11.94 EPS for the current fiscal year.

Stryker Dividend Announcement

The company 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. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.97%. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Insider Activity

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Ronda E. Stryker sold 201,146 shares of the 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 sale, 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 filing with the SEC, which is accessible through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of Stryker 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 sale, the chief accounting officer now directly owns 3,675 shares in the company, 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 Investors Weigh In On Stryker

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Stryker by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock worth $8,379,967,000 after buying an additional 143,631 shares in the last quarter. Greenleaf Trust boosted its holdings in shares of Stryker by 0.6% in the first quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock valued at $6,655,089,000 after acquiring an additional 108,080 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Stryker by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after buying an additional 642,178 shares during the period. FMR LLC lifted its stake in shares of Stryker by 2.5% in the third quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock valued at $1,632,127,000 after purchasing an additional 144,208 shares during the period. Finally, Morgan Stanley increased its stake in Stryker by 4.4% in the 3rd quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after purchasing an additional 223,728 shares in the last quarter. 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.