Stryker (NYSE:SYK) Given New $380.00 Price Target at Evercore ISI

Stryker (NYSE:SYK) had its price objective lifted by Evercore ISI from $365.00 to $380.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the medical technology company’s stock.

A number of other equities research analysts have also recently commented on SYK. BTIG Research increased their target price on shares of Stryker from $360.00 to $374.00 and gave the company a buy rating in a research report on Wednesday, August 28th. Piper Sandler reiterated an overweight rating and issued a $380.00 price objective on shares of Stryker in a report on Tuesday, September 10th. Truist Financial lowered their target price on Stryker from $364.00 to $345.00 and set a hold rating on the stock in a report on Thursday, August 1st. Morgan Stanley upped their price target on Stryker from $345.00 to $350.00 and gave the company an equal weight rating in a research report on Monday, July 15th. Finally, Needham & Company LLC lifted their price objective on Stryker from $392.00 to $393.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Stryker has a consensus rating of Moderate Buy and an average target price of $379.37.

Stryker Stock Down 0.1 %

SYK opened at $351.20 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. Stryker has a twelve month low of $249.98 and a twelve month high of $374.63. The company has a market cap of $133.79 billion, a PE ratio of 40.09, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91. The company has a 50-day moving average price of $349.77 and a 200 day moving average price of $343.16.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating 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 business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the business posted $2.54 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. Sell-side analysts expect that Stryker will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 36.53%.

Insider Activity

In related news, insider Viju Menon sold 600 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Stryker

Several large investors have recently bought and sold shares of the stock. AMI Investment Management Inc. grew its position in shares of Stryker by 17.2% during the third quarter. AMI Investment Management Inc. now owns 9,249 shares of the medical technology company’s stock worth $3,341,000 after buying an additional 1,358 shares in the last quarter. HBW Advisory Services LLC purchased a new position in Stryker in the third quarter worth approximately $42,000. Canandaigua National Bank & Trust Co. grew its holdings in Stryker by 0.9% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 8,633 shares of the medical technology company’s stock worth $3,119,000 after acquiring an additional 74 shares in the last quarter. Farmers Trust Co. increased its position in shares of Stryker by 8.6% in the 3rd quarter. Farmers Trust Co. now owns 3,369 shares of the medical technology company’s stock valued at $1,217,000 after purchasing an additional 267 shares during the last quarter. Finally, Unique Wealth LLC raised its holdings in shares of Stryker by 16.0% in the 3rd quarter. Unique Wealth LLC now owns 6,147 shares of the medical technology company’s stock valued at $2,221,000 after purchasing an additional 848 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

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.