Stryker (NYSE:SYK) Price Target Raised to $380.00

Stryker (NYSE:SYK) had its price target boosted by Truist Financial from $370.00 to $380.00 in a research note released on Wednesday, Benzinga reports. Truist Financial currently has a hold rating on the medical technology company’s stock.

Several other research analysts have also recently weighed in on the company. UBS Group upped their price objective on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday. Evercore ISI upped their price target on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Morgan Stanley increased their target price on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Finally, Wells Fargo & Company raised their target price on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Price Performance

NYSE SYK opened at $367.15 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 1.91. The stock has a market cap of $139.96 billion, a price-to-earnings ratio of 39.35, a PEG ratio of 2.69 and a beta of 0.91. The business has a 50 day simple moving average of $360.18 and a 200 day simple moving average of $344.26. Stryker has a 52-week low of $266.93 and a 52-week high of $374.63.

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

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.87%. The ex-dividend date was Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 34.30%.

Insider Transactions at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, 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 disclosure for this sale can be found here. Insiders sold 200,068 shares of company stock worth $65,151,372 over the last quarter. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Several hedge funds and other institutional investors have recently modified their holdings of SYK. International Assets Investment Management LLC raised its position in shares of Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after buying an additional 852,496 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after acquiring an additional 813,311 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Stryker by 146.9% in the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after acquiring an additional 522,817 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Stryker by 287.6% during the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after acquiring an additional 375,166 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Stryker by 1.0% during the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after purchasing an additional 309,592 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.