Stryker (NYSE:SYK) Receives New Coverage from Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Stryker (NYSE:SYKFree Report) in a research report report published on Thursday morning, Marketbeat reports. The firm issued a neutral rating and a $372.00 price target on the medical technology company’s stock.

Several other brokerages have also weighed in on SYK. Truist Financial raised their price objective 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. Barclays raised their price objective on shares of Stryker from $372.00 to $376.00 and gave the company an overweight rating in a research report on Thursday, May 2nd. Wells Fargo & Company raised their price objective on shares of Stryker from $364.00 to $381.00 and gave the company an overweight rating in a research report on Wednesday, May 1st. Piper Sandler raised their price objective on shares of Stryker from $375.00 to $380.00 and gave the company an overweight rating in a research report on Wednesday, May 1st. Finally, UBS Group lifted their price target on shares of Stryker from $339.00 to $351.00 and gave the company a neutral rating in a research report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $370.58.

View Our Latest Stock Report on Stryker

Stryker Stock Performance

Shares of SYK opened at $341.09 on Thursday. Stryker has a one year low of $249.98 and a one year high of $361.41. The company has a 50-day moving average of $338.39 and a two-hundred day moving average of $326.36. The stock has a market cap of $129.94 billion, a price-to-earnings ratio of 38.94, a PEG ratio of 2.69 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 0.99.

Stryker (NYSE:SYKGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business 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%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.14 earnings per share. On average, equities research analysts expect that Stryker will post 11.95 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.94%. Stryker’s dividend payout ratio is currently 36.53%.

Insiders Place Their Bets

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction 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 owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Several institutional investors and hedge funds have recently made changes to their positions in SYK. Norges Bank acquired a new stake in shares of Stryker in the 4th quarter valued at $1,260,562,000. Global Assets Advisory LLC acquired a new stake in shares of Stryker in the 1st quarter valued at $341,049,000. JPMorgan Chase & Co. boosted its stake in shares of Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after purchasing an additional 813,311 shares in the last quarter. Magellan Asset Management Ltd boosted its stake in shares of Stryker by 74,911.8% in the 3rd quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock valued at $185,921,000 after purchasing an additional 679,450 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake 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 purchasing an additional 642,178 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Stryker (NYSE:SYK)

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