Stryker (NYSE:SYK) Given New $400.00 Price Target at Truist Financial

Stryker (NYSE:SYK) had its price target boosted by Truist Financial from $390.00 to $400.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a hold rating on the medical technology company’s stock.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. raised their price target on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company raised their target price on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. The Goldman Sachs Group set a $422.00 price target on Stryker in a research note on Tuesday, March 4th. Barclays increased their price target on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Canaccord Genuity Group boosted their price objective on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average target price of $425.84.

Stryker Price Performance

Shares of SYK stock opened at $381.42 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. Stryker has a 12 month low of $314.93 and a 12 month high of $406.19. The firm has a market cap of $145.59 billion, a price-to-earnings ratio of 49.15, a PEG ratio of 2.93 and a beta of 0.93. The stock has a 50-day moving average price of $366.18 and a 200 day moving average price of $374.00.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the previous year, the firm posted $2.50 earnings per share. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. Research analysts expect that Stryker will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Monday, March 31st. Stryker’s dividend payout ratio is presently 45.41%.

Insiders Place Their Bets

In other news, Director Allan C. Golston sold 2,458 shares of the business’s 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Stryker in the fourth quarter valued at about $25,000. Capital A Wealth Management LLC bought a new position in Stryker in the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. increased its position in shares of Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after purchasing an additional 68 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Stryker during the 4th quarter worth approximately $30,000. Finally, Goodman Advisory Group LLC acquired a new stake in shares of Stryker in the 1st quarter valued at approximately $32,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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.