Stryker Co. (NYSE:SYK) Receives Average Recommendation of “Moderate Buy” from Analysts

Stryker Co. (NYSE:SYK) has earned an average recommendation of “Moderate Buy” from the nineteen brokerages that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $378.58.

SYK has been the subject of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and set a $380.00 price target on shares of Stryker in a report on Tuesday, September 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $386.00 price target on shares of Stryker in a research report on Wednesday, July 31st. BTIG Research increased their price objective on shares of Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Morgan Stanley upped their price target on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Finally, StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research note on Monday, September 16th.

Stryker Stock Performance

NYSE SYK opened at $361.38 on Friday. Stryker has a fifty-two week low of $249.98 and a fifty-two week high of $374.63. The firm has a market capitalization of $137.67 billion, a P/E ratio of 41.25, a price-to-earnings-growth ratio of 2.79 and a beta of 0.91. The stock’s fifty day moving average is $346.93 and its two-hundred day moving average is $343.01. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.02. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. Stryker’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $2.54 earnings per share. On average, research analysts anticipate that Stryker will post 12 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Activity at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock valued at $71,811,372 over the last three months. 5.90% of the stock is owned by corporate insiders.

Institutional Trading of Stryker

Several institutional investors and hedge funds have recently bought and sold shares of SYK. Vanguard Group Inc. increased its holdings in shares of Stryker by 1.0% in the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after purchasing an additional 309,592 shares during the period. Greenleaf Trust lifted its position in shares of Stryker by 0.6% during the 1st quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock valued at $6,655,089,000 after acquiring an additional 108,080 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Stryker by 5.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after purchasing an additional 642,178 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after buying an additional 813,311 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Stryker by 2.6% during the 4th quarter. Fisher Asset Management LLC now owns 4,040,310 shares of the medical technology company’s stock valued at $1,209,912,000 after buying an additional 101,319 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.