UBS Group Raises Stryker (NYSE:SYK) Price Target to $351.00

Stryker (NYSE:SYK) had its target price hoisted by UBS Group from $339.00 to $351.00 in a research note published on Wednesday, Benzinga reports. They currently have a neutral rating on the medical technology company’s stock.

Several other equities analysts also recently weighed in on the company. Truist Financial raised their price target on Stryker from $330.00 to $345.00 and gave the stock a hold rating in a research report on Wednesday, January 31st. BTIG Research upped their target price on shares of Stryker from $366.00 to $369.00 and gave the company a buy rating in a report on Wednesday. Canaccord Genuity Group raised shares of Stryker from a hold rating to a buy rating and boosted their price objective for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. StockNews.com raised shares of Stryker from a hold rating to a buy rating in a research note on Tuesday, January 23rd. Finally, Wells Fargo & Company raised their price objective on Stryker from $336.00 to $364.00 and gave the stock an overweight rating in a report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $365.94.

Stryker Stock Performance

SYK opened at $328.45 on Wednesday. The stock’s 50 day simple moving average is $347.52 and its 200 day simple moving average is $316.85. The stock has a market cap of $124.97 billion, a P/E ratio of 37.49, a P/E/G ratio of 2.63 and a beta of 0.91. Stryker has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.97.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the company posted $2.14 EPS. The business’s revenue was up 9.7% on a year-over-year basis. As a group, equities analysts anticipate that Stryker will post 11.93 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were paid a $0.80 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. Stryker’s payout ratio is currently 36.53%.

Insider Buying and Selling

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a filing with the SEC, 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 shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the sale, the director now directly owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Burkett Financial Services LLC acquired a new position in shares of Stryker in the 4th quarter worth $25,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 61 shares during the period. Rogco LP purchased a new position in Stryker during the fourth quarter valued at approximately $30,000. Central Pacific Bank Trust Division acquired a new stake in shares of Stryker during the 1st quarter valued at $39,000. Finally, DSM Capital Partners LLC acquired a new position in shares of Stryker in the fourth quarter worth $34,000. Institutional investors and hedge funds 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.