Truist Financial Boosts Stryker (NYSE:SYK) Price Target to $370.00

Stryker (NYSE:SYK) had its price target boosted by Truist Financial from $345.00 to $370.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a hold rating on the medical technology company’s stock.

Several other equities analysts also recently weighed in on SYK. Needham & Company LLC lifted their target price on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and set a $380.00 target price on shares of Stryker in a research note on Tuesday, September 10th. BTIG Research raised their price target on shares of Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Wolfe Research started coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective on the stock. Finally, Evercore ISI increased their price objective on Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $381.16.

Stryker Price Performance

Stryker stock opened at $361.38 on Monday. The company’s 50 day simple moving average is $354.28 and its 200-day simple moving average is $343.09. 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 has a 1 year low of $255.22 and a 1 year high of $374.63. The company has a market capitalization of $137.67 billion, a price-to-earnings ratio of 41.25, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91.

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

Stryker Dividend Announcement

The company 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 dividend on an annualized basis 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 currently 36.53%.

Insider Activity

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Viju Menon sold 600 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 220,068 shares of company stock valued at $71,811,372. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SYK. Global Assets Advisory LLC acquired a new position in Stryker in the 1st quarter valued at $341,049,000. JPMorgan Chase & Co. increased its stake in shares of Stryker by 10.4% during the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after acquiring an additional 813,311 shares during the period. 1832 Asset Management L.P. raised its holdings in Stryker by 146.9% during the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after purchasing an additional 522,817 shares in the last quarter. American Century Companies Inc. boosted its holdings in Stryker by 287.6% in the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after purchasing an additional 375,166 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Stryker by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after purchasing an additional 309,592 shares during the period. 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.