Brokerages Set Stryker Co. (NYSE:SYK) Target Price at $405.80

Shares of Stryker Co. (NYSE:SYK) have earned a consensus rating of “Moderate Buy” from the twenty ratings firms that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $405.80.

Several brokerages have recently weighed in on SYK. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a report on Wednesday. Robert W. Baird raised their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup boosted their price target on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Truist Financial raised their price objective on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Stryker

Several institutional investors have recently modified their holdings of the business. Everence Capital Management Inc. increased its holdings in Stryker by 21.4% during the 4th quarter. Everence Capital Management Inc. now owns 9,570 shares of the medical technology company’s stock worth $3,446,000 after purchasing an additional 1,690 shares during the period. GAMMA Investing LLC grew its position in shares of Stryker by 65.1% during the fourth quarter. GAMMA Investing LLC now owns 4,789 shares of the medical technology company’s stock worth $1,724,000 after buying an additional 1,888 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Stryker by 16.5% during the fourth quarter. Versant Capital Management Inc now owns 1,121 shares of the medical technology company’s stock worth $404,000 after buying an additional 159 shares during the period. Old Port Advisors raised its holdings in Stryker by 6.6% in the fourth quarter. Old Port Advisors now owns 996 shares of the medical technology company’s stock valued at $359,000 after acquiring an additional 62 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Stryker by 6.2% in the third quarter. Principal Financial Group Inc. now owns 398,422 shares of the medical technology company’s stock worth $143,934,000 after acquiring an additional 23,329 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 0.8 %

Shares of SYK opened at $361.52 on Friday. The stock has a 50 day moving average price of $375.23 and a 200 day moving average price of $357.07. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The stock has a market capitalization of $137.82 billion, a price-to-earnings ratio of 38.75, a PEG ratio of 2.82 and a beta of 0.95. Stryker has a one year low of $292.96 and a one year high of $398.20.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.46 earnings per share. Equities research analysts forecast that Stryker will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 annualized dividend and a yield of 0.93%. Stryker’s dividend payout ratio is presently 36.01%.

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.