Stryker’s (SYK) Market Perform Rating Reaffirmed at JMP Securities

JMP Securities restated their market perform rating on shares of Stryker (NYSE:SYK) in a report published on Monday morning,Benzinga reports.

SYK has been the topic of several other reports. Canaccord Genuity Group boosted their target price on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased their target price on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Truist Financial lifted their price target on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a report on Thursday, January 30th. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Argus set a $450.00 target price on shares of Stryker in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $425.84.

Stryker Price Performance

Stryker stock opened at $381.42 on Monday. The business has a 50 day simple moving average of $366.18 and a 200 day simple moving average of $374.00. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The company has a market capitalization of $145.59 billion, a PE ratio of 49.15, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. Stryker has a one year low of $314.93 and a one year high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The company had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.68 billion. During the same period last year, the business earned $2.50 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts forecast that Stryker will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

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

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Stryker during the fourth quarter worth $1,710,744,000. GAMMA Investing LLC lifted its holdings in shares of Stryker by 43,226.8% in the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company’s stock valued at $772,390,000 after purchasing an additional 2,070,133 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Stryker during the fourth quarter worth about $353,394,000. FMR LLC grew its holdings in shares of Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock worth $2,892,946,000 after buying an additional 727,850 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position in Stryker by 52,520.8% in the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock valued at $214,660,000 after buying an additional 595,061 shares during the last quarter. 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.