Stryker (NYSE:SYK) Coverage Initiated by Analysts at Leerink Partners

Leerink Partners initiated coverage on shares of Stryker (NYSE:SYK) in a research note released on Monday, MarketBeat.com reports. The brokerage issued an outperform rating and a $410.00 price target on the medical technology company’s stock.

Several other equities research analysts have also issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 22nd. UBS Group dropped their price objective on shares of Stryker from $400.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 17th. Evercore set a $390.00 price objective on shares of Stryker in a research report on Monday, January 5th. Citizens Jmp raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective for the company in a research report on Friday, December 19th. Finally, Truist Financial dropped their price objective on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Fifteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $422.53.

Stryker Stock Performance

NYSE:SYK opened at $347.28 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. The company has a market cap of $133.00 billion, a P/E ratio of 41.34, a P/E/G ratio of 1.98 and a beta of 0.92. Stryker has a fifty-two week low of $319.32 and a fifty-two week high of $404.87. The firm’s 50 day moving average is $354.45 and its two-hundred day moving average is $360.24.

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

Stryker Announces Dividend

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

Insider Activity

In other news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the sale, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.60% of the company’s stock.

Institutional Trading of Stryker

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Stryker in the 4th quarter worth about $1,822,272,000. Auto Owners Insurance Co increased its position 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 worth $1,024,444,000 after purchasing an additional 2,906,448 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Stryker by 22.6% in the 4th quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company’s stock worth $2,282,192,000 after purchasing an additional 1,198,665 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Stryker by 104.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after purchasing an additional 1,146,998 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Stryker by 13.3% in the 3rd quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company’s stock worth $2,342,987,000 after purchasing an additional 741,542 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

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.