Stryker (NYSE:SYK) Given New $380.00 Price Target at UBS Group

Stryker (NYSE:SYK) had its target price cut by UBS Group from $400.00 to $380.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the medical technology company’s stock.

Several other equities analysts have also recently issued reports on the stock. Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Barclays reissued an “overweight” rating and set a $469.00 price objective on shares of Stryker in a report on Monday, February 2nd. Robert W. Baird set a $437.00 price target on Stryker in a research note on Friday, January 30th. Piper Sandler restated an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. Finally, TD Cowen cut shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 price objective on the stock. in a research note on Monday, January 26th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average price target of $427.50.

Stryker Stock Performance

Shares of SYK stock opened at $349.19 on Tuesday. The company has a market capitalization of $133.63 billion, a price-to-earnings ratio of 41.57, a price-to-earnings-growth ratio of 2.04 and a beta of 0.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. Stryker has a one year low of $328.23 and a one year high of $404.87. The company’s 50-day moving average is $364.88 and its 200 day moving average is $366.76.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. The firm had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.01 earnings per share. Sell-side analysts expect that Stryker will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio is 41.90%.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the sale, the director directly owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Stance Capital LLC lifted its position in Stryker by 4.8% during the fourth quarter. Stance Capital LLC now owns 12,517 shares of the medical technology company’s stock valued at $4,399,000 after purchasing an additional 569 shares during the period. Rockefeller Capital Management L.P. grew its position in Stryker by 13.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 85,579 shares of the medical technology company’s stock worth $30,079,000 after purchasing an additional 10,037 shares during the period. World Investment Advisors raised its stake in shares of Stryker by 0.7% during the 4th quarter. World Investment Advisors now owns 10,890 shares of the medical technology company’s stock valued at $3,828,000 after buying an additional 71 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Stryker by 3.3% in the 4th quarter. Corient Private Wealth LLC now owns 981,354 shares of the medical technology company’s stock valued at $345,023,000 after buying an additional 31,361 shares during the period. Finally, Auto Owners Insurance Co lifted its holdings in shares of Stryker by 35,047.0% in the 4th quarter. Auto Owners Insurance Co now owns 2,914,741 shares of the medical technology company’s stock valued at $1,024,444,000 after buying an additional 2,906,448 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.