Stryker (NYSE:SYK) Price Target Raised to $376.00 at Barclays

Stryker (NYSE:SYK) had its price objective lifted by Barclays from $372.00 to $376.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the medical technology company’s stock.

SYK has been the topic of a number of other reports. Citigroup boosted their target price on shares of Stryker from $362.00 to $406.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Roth Mkm raised their target price on Stryker from $348.00 to $405.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. Canaccord Genuity Group raised Stryker from a hold rating to a buy rating and upped their price target for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. StockNews.com raised Stryker from a hold rating to a buy rating in a report on Tuesday, January 23rd. Finally, TD Cowen upped their price objective on shares of Stryker from $365.00 to $400.00 and gave the company a buy rating in a report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $365.94.

Stryker Price Performance

Shares of NYSE SYK opened at $328.45 on Thursday. The company has a market capitalization of $125.12 billion, a PE ratio of 37.49, a PEG ratio of 2.56 and a beta of 0.91. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average price is $346.99 and its 200-day moving average price is $317.97. Stryker has a twelve month low of $249.98 and a twelve month high of $361.41.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share 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 for the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter in the previous year, the firm earned $2.14 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. On average, equities analysts anticipate that Stryker will post 11.94 EPS for the current year.

Stryker Announces Dividend

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

Insider Activity at Stryker

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the business’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 value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now 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 is available through this link. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Stryker

Hedge funds have recently added to or reduced their stakes in the company. Keybank National Association OH grew its position in Stryker by 3.5% during the third quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock valued at $7,603,000 after acquiring an additional 952 shares during the last quarter. Carnegie Capital Asset Management LLC grew its holdings in shares of Stryker by 0.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock valued at $28,820,000 after purchasing an additional 497 shares during the last quarter. CoreCap Advisors LLC raised its position in Stryker by 3.9% in the 4th quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock worth $1,506,000 after purchasing an additional 191 shares during the period. Consolidated Planning Corp bought a new stake in Stryker in the fourth quarter worth $205,000. Finally, Meritage Portfolio Management purchased a new stake in Stryker during the fourth quarter valued at about $569,000. Institutional investors 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.