Truist Financial Issues Positive Forecast for Stryker (NYSE:SYK) Stock Price

Stryker (NYSE:SYK) had its price target upped by Truist Financial from $410.00 to $415.00 in a research note issued to investors on Monday,Benzinga reports. Truist Financial currently has a hold rating on the medical technology company’s stock.

SYK has been the subject of several other reports. JMP Securities restated a “market perform” rating on shares of Stryker in a research report on Monday, May 5th. Citigroup restated a “buy” rating and set a $455.00 price target (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Roth Mkm raised their price target on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Needham & Company LLC raised their price target on Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $430.10.

Stryker Price Performance

SYK stock opened at $381.24 on Monday. The business has a fifty day moving average of $387.55 and a two-hundred day moving average of $380.36. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The stock has a market cap of $145.51 billion, a price-to-earnings ratio of 50.49, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. Stryker has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping the consensus estimate of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the business posted $2.81 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, research analysts anticipate that Stryker will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, June 30th. Stryker’s dividend payout ratio is currently 44.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SYK. Brighton Jones LLC lifted its holdings in shares of Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after purchasing an additional 609 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of Stryker in the 4th quarter valued at about $328,000. Prudential PLC lifted its holdings in shares of Stryker by 1.6% in the 4th quarter. Prudential PLC now owns 6,732 shares of the medical technology company’s stock valued at $2,424,000 after purchasing an additional 104 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Stryker by 3.9% in the 4th quarter. Federated Hermes Inc. now owns 118,515 shares of the medical technology company’s stock valued at $42,671,000 after purchasing an additional 4,470 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Stryker by 1.1% in the 4th quarter. Bank of Montreal Can now owns 549,836 shares of the medical technology company’s stock valued at $197,969,000 after purchasing an additional 5,749 shares during the last quarter. 77.09% of the stock is 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.