Stryker (NYSE:SYK) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Stryker (NYSE:SYK) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $386.00 price objective on the medical technology company’s stock.

Several other equities analysts have also recently weighed in on the stock. Evercore ISI dropped their price target on shares of Stryker from $370.00 to $365.00 and set an outperform rating on the stock in a research report on Tuesday, July 2nd. Wells Fargo & Company lifted their target price on Stryker from $364.00 to $381.00 and gave the company an overweight rating in a research report on Wednesday, May 1st. Robert W. Baird increased their price target on Stryker from $367.00 to $378.00 and gave the company an outperform rating in a research report on Wednesday, May 1st. Piper Sandler lifted their price objective on shares of Stryker from $375.00 to $380.00 and gave the stock an overweight rating in a report on Wednesday, May 1st. Finally, Roth Mkm upped their target price on shares of Stryker from $348.00 to $405.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $373.11.

Stryker Trading Down 0.5 %

Shares of Stryker stock opened at $331.56 on Wednesday. The stock has a market capitalization of $126.35 billion, a PE ratio of 37.85, a price-to-earnings-growth ratio of 2.57 and a beta of 0.89. Stryker has a 52 week low of $249.98 and a 52 week high of $361.41. The stock has a 50 day moving average price of $338.87 and a two-hundred day moving average price of $339.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 1.68.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. Stryker’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $2.54 EPS. As a group, equities analysts anticipate that Stryker will post 11.99 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were paid a $0.80 dividend. The ex-dividend date was Friday, June 28th. This represents a $3.20 annualized dividend and a yield of 0.97%. Stryker’s payout ratio is 36.53%.

Insider Buying and Selling at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.90% of the stock is owned by corporate insiders.

Institutional Trading of Stryker

A number of institutional investors have recently modified their holdings of SYK. Kornitzer Capital Management Inc. KS boosted its holdings in Stryker by 2.3% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 7,932 shares of the medical technology company’s stock valued at $2,699,000 after purchasing an additional 179 shares during the period. First Business Financial Services Inc. raised its position in shares of Stryker by 17.5% in the second quarter. First Business Financial Services Inc. now owns 7,703 shares of the medical technology company’s stock worth $2,621,000 after buying an additional 1,145 shares in the last quarter. SouthState Corp boosted its stake in Stryker by 14.1% during the second quarter. SouthState Corp now owns 15,017 shares of the medical technology company’s stock valued at $5,110,000 after buying an additional 1,855 shares during the period. Journey Advisory Group LLC grew its position in Stryker by 3.9% during the second quarter. Journey Advisory Group LLC now owns 3,235 shares of the medical technology company’s stock worth $1,101,000 after buying an additional 122 shares in the last quarter. Finally, Foster & Motley Inc. increased its stake in Stryker by 250.0% in the 2nd quarter. Foster & Motley Inc. now owns 2,254 shares of the medical technology company’s stock worth $767,000 after acquiring an additional 1,610 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other 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.