The Goldman Sachs Group Cuts Stryker (NYSE:SYK) Price Target to $357.00

Stryker (NYSE:SYK) had its price objective lowered by The Goldman Sachs Group from $403.00 to $357.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the medical technology company’s stock.

A number of other brokerages have also commented on SYK. Evercore set a $390.00 price target on shares of Stryker in a report on Monday, January 5th. BTIG Research increased their price target on shares of Stryker from $410.00 to $412.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Needham & Company LLC increased their price target on shares of Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, Raymond James Financial raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price target on the stock in a report on Tuesday, January 6th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $423.22.

Stryker Stock Performance

NYSE SYK opened at $339.32 on Thursday. Stryker has a 1 year low of $319.32 and a 1 year high of $404.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. The stock has a market capitalization of $129.95 billion, a PE ratio of 40.40, a P/E/G ratio of 1.98 and a beta of 0.92. The company’s 50 day simple moving average is $354.87 and its two-hundred day simple moving average is $360.46.

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

Stryker Announces Dividend

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

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction 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 transaction, the director owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Stryker

Several institutional investors and hedge funds have recently made changes to their positions in SYK. Norges Bank bought a new position in shares of Stryker during the 4th quarter valued at $1,822,272,000. Alliancebernstein L.P. grew its holdings in shares of Stryker by 307.6% during the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after purchasing an additional 4,223,366 shares during the last quarter. Auto Owners Insurance Co grew its holdings in shares of Stryker by 35,047.0% during 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 purchasing an additional 2,906,448 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Stryker by 22.6% during the 4th quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company’s stock valued at $2,282,192,000 after purchasing an additional 1,198,665 shares during the last quarter. Finally, Corient Private Wealth LLC grew its holdings in shares of Stryker by 104.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after purchasing an additional 1,146,998 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Company Profile

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.