Stryker (NYSE:SYK) Price Target Cut to $385.00 by Analysts at Citigroup

Stryker (NYSE:SYK) had its price target cut by Citigroup from $420.00 to $385.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the medical technology company’s stock.

A number of other research analysts also recently commented on SYK. Evercore set a $390.00 price objective on shares of Stryker in a research note on Monday, January 5th. Jefferies Financial Group reaffirmed a “buy” rating and set a $465.00 price objective on shares of Stryker in a research note on Wednesday, March 4th. Raymond James Financial raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective for the company in a research note on Tuesday, January 6th. Citizens Jmp upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective for the company in a report on Friday, December 19th. Finally, William Blair restated an “outperform” rating on shares of Stryker in a report on Thursday, March 5th. Fourteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $425.56.

Stryker Trading Down 0.2%

Shares of SYK opened at $331.64 on Tuesday. The stock has a fifty day moving average of $356.14 and a two-hundred day moving average of $361.12. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. The company has a market capitalization of $127.01 billion, a PE ratio of 39.48, a price-to-earnings-growth ratio of 1.94 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.

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

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. Stryker’s dividend payout ratio is presently 41.90%.

Insider Activity

In other 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 value of $90,730,000.00. Following the completion of the sale, the director owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.60% of the stock is owned by insiders.

Institutional Trading of Stryker

Several large investors have recently added to or reduced their stakes in SYK. Brighton Jones LLC increased its holdings in 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 in the last quarter. Schnieders Capital Management LLC. acquired a new stake in Stryker in the 2nd quarter valued at $205,000. Guggenheim Capital LLC increased its holdings in Stryker by 2.5% in the 2nd quarter. Guggenheim Capital LLC now owns 6,180 shares of the medical technology company’s stock valued at $2,445,000 after purchasing an additional 152 shares in the last quarter. Marshall Wace LLP increased its holdings in Stryker by 107.9% in the 2nd quarter. Marshall Wace LLP now owns 5,700 shares of the medical technology company’s stock valued at $2,255,000 after purchasing an additional 77,831 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in Stryker by 2.1% in the 2nd quarter. Gamco Investors INC. ET AL now owns 22,175 shares of the medical technology company’s stock valued at $8,773,000 after purchasing an additional 451 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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.