Stryker’s (SYK) “Buy” Rating Reiterated at Citigroup

Citigroup restated their buy rating on shares of Stryker (NYSE:SYK) in a report released on Wednesday, Marketbeat.com reports. They currently have a $450.00 price objective on the medical technology company’s stock.

Several other research firms also recently commented on SYK. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. UBS Group increased their price target on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Tuesday. Evercore ISI increased their price target on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus increased their price target on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $422.15.

Stryker Stock Performance

Shares of Stryker stock opened at $386.55 on Wednesday. The firm has a market cap of $147.50 billion, a price-to-earnings ratio of 49.81, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. The stock’s 50-day moving average is $380.50 and its 200-day moving average is $370.92. Stryker has a one year low of $314.93 and a one year high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period last year, the business earned $3.46 EPS. Equities analysts predict that Stryker will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Monday, March 31st. Stryker’s payout ratio is 43.30%.

Insider Activity

In other news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Institutional Trading of Stryker

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Park Square Financial Group LLC acquired a new stake in Stryker in the fourth quarter valued at $67,000. Menard Financial Group LLC acquired a new stake in Stryker in the fourth quarter valued at $153,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Stryker in the fourth quarter valued at $154,140,000. Bernard Wealth Management Corp. acquired a new stake in Stryker during the 4th quarter worth about $188,000. Finally, Capital A Wealth Management LLC acquired a new stake in Stryker during the 4th quarter worth about $26,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Company Profile

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.