Stryker (NYSE:SYK) Price Target Raised to $384.00 at Evercore ISI

Stryker (NYSE:SYK) had its price target lifted by Evercore ISI from $380.00 to $384.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the medical technology company’s stock.

A number of other analysts have also commented on the stock. UBS Group lifted their target price on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Morgan Stanley raised their price target on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. BTIG Research upped their target price on Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price target on shares of Stryker in a research note on Wednesday, July 31st. Four equities 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.com, Stryker presently has an average rating of “Moderate Buy” and an average target price of $392.60.

Stryker Trading Up 1.2 %

Shares of NYSE:SYK opened at $363.48 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The stock’s 50-day moving average is $359.79 and its 200-day moving average is $343.98. The company has a market cap of $138.47 billion, a P/E ratio of 41.49, a P/E/G ratio of 2.73 and a beta of 0.91. Stryker has a 52-week low of $264.85 and a 52-week high of $374.63.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.09. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the firm posted $2.46 EPS. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities research analysts predict that Stryker will post 12 earnings per share for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio is currently 36.53%.

Insider Transactions at Stryker

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Stryker news, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now directly 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock worth $71,811,372 in the last quarter. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

A number of large investors have recently made changes to their positions in SYK. Consilium Wealth Advisory LLC bought a new stake in shares of Stryker in the 3rd quarter valued at about $512,000. Gordian Advisors LLC purchased a new position in Stryker during the 3rd quarter worth $298,000. Umpqua Bank boosted its stake in Stryker by 0.7% in the 3rd quarter. Umpqua Bank now owns 5,369 shares of the medical technology company’s stock worth $1,940,000 after purchasing an additional 39 shares in the last quarter. Ballast Advisors LLC lifted its stake in shares of Stryker by 2.1% during the third quarter. Ballast Advisors LLC now owns 3,075 shares of the medical technology company’s stock worth $1,111,000 after buying an additional 62 shares during the period. Finally, Harvest Portfolios Group Inc. grew its stake in Stryker by 10.6% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 168,984 shares of the medical technology company’s stock valued at $61,047,000 after purchasing an additional 16,194 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

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.