Stryker (NYSE:SYK) Shares Gap Up Following Strong Earnings

Stryker Corporation (NYSE:SYKGet Free Report)’s stock price gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $354.30, but opened at $369.10. Stryker shares last traded at $368.9750, with a volume of 371,383 shares.

The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. The business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a return on equity of 24.73% and a net margin of 12.92%.The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business posted $4.01 EPS.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were paid a $0.88 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio (DPR) is presently 46.25%.

Stryker News Roundup

Here are the key news stories impacting Stryker this week:

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. TD Cowen cut Stryker from a “buy” rating to a “hold” rating and set a $387.00 price target for the company. in a research report on Monday. Royal Bank Of Canada restated an “outperform” rating and issued a $435.00 target price on shares of Stryker in a research note on Friday, November 14th. The Goldman Sachs Group set a $399.00 price target on Stryker in a research report on Friday, January 9th. Truist Financial cut 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. Finally, Barclays boosted their price objective on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.95.

Get Our Latest Stock Report on SYK

Insider Activity at Stryker

In other news, CAO William E. Berry, Jr. sold 1,953 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the sale, the chief accounting officer owned 2,833 shares in the company, valued at approximately $1,035,433.17. This trade represents a 40.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ronda E. Stryker sold 276,173 shares of Stryker stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the sale, the director directly owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. This represents a 9.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 522,118 shares of company stock valued at $185,381,932 over the last three months. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stryker

Large investors have recently added to or reduced their stakes in the company. Two Point Capital Management Inc. bought a new position in Stryker during the second quarter valued at approximately $7,281,000. Diversified Trust Co lifted its holdings in shares of Stryker by 45.6% in the 3rd quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company’s stock worth $4,601,000 after acquiring an additional 3,899 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Stryker in the 2nd quarter valued at $4,785,000. AXQ Capital LP bought a new position in shares of Stryker during the 2nd quarter valued at $567,000. Finally, Hendley & Co. Inc. raised its position in Stryker by 60.3% in the 2nd quarter. Hendley & Co. Inc. now owns 14,018 shares of the medical technology company’s stock worth $5,546,000 after purchasing an additional 5,274 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

The business’s 50-day moving average is $359.40 and its 200 day moving average is $371.80. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. The company has a market cap of $141.26 billion, a PE ratio of 43.97, a PEG ratio of 2.27 and a beta of 0.89.

Stryker Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.