Stryker (NYSE:SYK) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Stryker (NYSE:SYK) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.

A number of other research firms also recently weighed in on SYK. UBS Group upped their target price on shares of Stryker from $351.00 to $366.00 and gave the stock a neutral rating in a research report on Wednesday, July 31st. Truist Financial cut their price objective on shares of Stryker from $364.00 to $345.00 and set a hold rating on the stock in a report on Thursday, August 1st. Wolfe Research started coverage on shares of Stryker in a report on Tuesday, September 10th. They set an outperform rating and a $405.00 target price for the company. Evercore ISI upped their price target on Stryker from $365.00 to $380.00 and gave the stock an outperform rating in a research note on Tuesday. Finally, Morgan Stanley lifted their price objective on Stryker from $345.00 to $350.00 and gave the company an equal weight rating in a research note on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Stryker has an average rating of Moderate Buy and a consensus price target of $379.37.

Stryker Price Performance

SYK stock opened at $351.20 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker has a 1 year low of $249.98 and a 1 year high of $374.63. The firm has a 50-day moving average of $349.77 and a 200 day moving average of $343.16. The company has a market cap of $133.79 billion, a P/E ratio of 40.09, a PEG ratio of 2.74 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the company earned $2.54 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts forecast that Stryker will post 12 EPS for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.91%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is currently 36.53%.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,068 shares of company stock valued at $71,811,372. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Centennial Bank AR raised its holdings in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Stryker in the first quarter worth about $39,000. HBW Advisory Services LLC purchased a new position in shares of Stryker during the 3rd quarter valued at about $42,000. Accent Capital Management LLC bought a new position in shares of Stryker during the 4th quarter valued at approximately $60,000. Finally, Sachetta LLC increased its holdings in Stryker by 16.3% in the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after acquiring an additional 34 shares in the last quarter. 77.09% of the stock is currently 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.