BTIG Research Boosts Stryker (NYSE:SYK) Price Target to $394.00

Stryker (NYSE:SYK) had its target price upped by BTIG Research from $383.00 to $394.00 in a research note issued to investors on Wednesday morning, Benzinga reports. BTIG Research currently has a buy rating on the medical technology company’s stock.

SYK has been the topic of a number of other reports. Needham & Company LLC increased their price target on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a report on Wednesday. Truist Financial increased their target price on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday. Piper Sandler restated an “overweight” rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday. Royal Bank of Canada increased their price objective on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $392.60.

Stryker Stock Up 1.2 %

SYK opened at $363.48 on Wednesday. Stryker has a 12 month low of $264.85 and a 12 month high of $374.63. The company has a market cap of $138.47 billion, a PE ratio of 41.49, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $359.79 and a 200 day moving average of $343.98.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.09. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the prior year, the business posted $2.46 earnings per share. The business’s quarterly revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts expect 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. Stockholders of record on Monday, September 30th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Activity at Stryker

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock worth $71,811,372 in the last ninety days. 5.90% of the stock is owned by company insiders.

Institutional Trading of Stryker

Several large investors have recently added to or reduced their stakes in the stock. Koshinski Asset Management Inc. purchased a new stake in shares of Stryker in the 1st quarter worth about $795,000. Envestnet Portfolio Solutions Inc. raised its stake in Stryker by 43.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after buying an additional 5,565 shares in the last quarter. Norden Group LLC purchased a new stake in Stryker in the first quarter worth about $4,027,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in Stryker by 38.5% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after acquiring an additional 5,502 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Stryker by 78.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock worth $45,260,000 after acquiring an additional 58,673 shares during the period. Institutional investors own 77.09% of the company’s stock.

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.