Stryker (NYSE:SYK) Price Target Raised to $370.00

Stryker (NYSE:SYK) had its target price upped by UBS Group from $366.00 to $370.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the medical technology company’s stock.

SYK has been the subject of a number of other research reports. BTIG Research upped their target price on shares of Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a report on Wednesday, July 31st. Robert W. Baird raised their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday. Piper Sandler restated an “overweight” rating and issued a $380.00 price target on shares of Stryker in a research report on Tuesday, September 10th. Finally, StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Up 3.1 %

SYK opened at $367.15 on Wednesday. The company has a fifty day moving average of $360.18 and a two-hundred day moving average of $344.26. The stock has a market capitalization of $139.96 billion, a price-to-earnings ratio of 39.35, a PEG ratio of 2.69 and a beta of 0.91. Stryker has a fifty-two week low of $266.93 and a fifty-two week high of $374.63. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 1.91.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the company earned $2.46 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, research analysts expect that Stryker will post 12.06 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Monday, September 30th. Stryker’s dividend payout ratio is presently 34.30%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 200,068 shares of company stock worth $65,151,372. 5.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SYK. Centennial Bank AR lifted its stake in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares during the period. Central Pacific Bank Trust Division bought a new stake in Stryker during the first quarter worth approximately $39,000. HBW Advisory Services LLC acquired a new stake in Stryker in the third quarter worth approximately $42,000. Hara Capital LLC bought a new position in Stryker during the 3rd quarter valued at $42,000. Finally, Grove Bank & Trust increased its position in shares of Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares during the period. 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.