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

Stryker (NYSE:SYK) had its price target upped by Piper Sandler from $375.00 to $380.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the medical technology company’s stock.

Several other research firms have also commented on SYK. StockNews.com raised shares of Stryker from a hold rating to a buy rating in a research note on Tuesday, January 23rd. Canaccord Genuity Group raised Stryker from a hold rating to a buy rating and raised their price objective for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. Roth Mkm boosted their target price on Stryker from $345.00 to $348.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Citigroup raised their price target on Stryker from $362.00 to $406.00 and gave the company a buy rating in a report on Wednesday, April 3rd. Finally, Truist Financial increased their price objective on shares of Stryker from $330.00 to $345.00 and gave the company a hold rating in a research report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Stryker currently has an average rating of Moderate Buy and an average price target of $365.94.

Stryker Stock Up 0.6 %

SYK stock opened at $328.45 on Wednesday. The company has a market capitalization of $124.97 billion, a price-to-earnings ratio of 37.49, a price-to-earnings-growth ratio of 2.63 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.97 and a current ratio of 1.71. The business’s 50 day moving average price is $347.52 and its two-hundred day moving average price is $316.85. Stryker has a fifty-two week low of $249.98 and a fifty-two week high of $361.41.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the prior year, the company earned $2.14 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, analysts forecast that Stryker will post 11.93 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Wednesday, March 27th. Stryker’s payout ratio is currently 36.53%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now directly owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the sale, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Institutional Trading of Stryker

A number of hedge funds and other institutional investors have recently modified their holdings of SYK. Burkett Financial Services LLC purchased a new stake in Stryker in the 4th quarter worth $25,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position in shares of Stryker by 203.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 61 shares in the last quarter. Rogco LP bought a new stake in Stryker during the 4th quarter valued at approximately $30,000. DSM Capital Partners LLC purchased a new position in Stryker in the 4th quarter worth approximately $34,000. Finally, HBC Financial Services PLLC bought a new position in Stryker in the 4th quarter worth approximately $37,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

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.