Stryker (NYSE:SYK – Free Report) had its target price upped by Wells Fargo & Company from $427.00 to $435.00 in a report published on Wednesday,Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.
SYK has been the topic of several other research reports. UBS Group raised their price target on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. 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 report on Wednesday, October 30th. Finally, Citigroup lifted their price target on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $413.45.
Stryker Stock Performance
Stryker (NYSE:SYK – Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.07% and a net margin of 16.34%. During the same quarter in the previous year, the company earned $3.46 EPS. Analysts forecast that Stryker will post 12.06 EPS for the current fiscal year.
Stryker Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is 36.01%.
Insider Buying and Selling
In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.90% of the company’s stock.
Institutional Investors Weigh In On Stryker
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Avestar Capital LLC lifted its stake in shares of Stryker by 8.7% in the fourth quarter. Avestar Capital LLC now owns 3,205 shares of the medical technology company’s stock valued at $1,154,000 after buying an additional 257 shares during the period. One Plus One Wealth Management LLC acquired a new stake in Stryker in the 4th quarter valued at $200,000. HMS Capital Management LLC boosted its stake in shares of Stryker by 0.8% in the 4th quarter. HMS Capital Management LLC now owns 4,668 shares of the medical technology company’s stock valued at $1,681,000 after purchasing an additional 37 shares in the last quarter. Stanley Laman Group Ltd. grew its stake in Stryker by 8.1% during the fourth quarter. Stanley Laman Group Ltd. now owns 1,491 shares of the medical technology company’s stock worth $537,000 after buying an additional 112 shares during the last quarter. Finally, McClarren Financial Advisors Inc. bought a new stake in Stryker during the 4th quarter worth approximately $124,000. Institutional investors and hedge funds own 77.09% of the company’s stock.
Stryker Company Profile
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.
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