Stryker (NYSE:SYK) Price Target Raised to $440.00

Stryker (NYSE:SYK) had its price target boosted by Stifel Nicolaus from $400.00 to $440.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the medical technology company’s stock.

A number of other research firms have also recently commented on SYK. BTIG Research upped their price target on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. UBS Group increased their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Barclays boosted their price target on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Evercore ISI raised their price objective on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $419.37.

Stryker Stock Up 0.1 %

Shares of NYSE:SYK opened at $390.90 on Wednesday. The company has a market capitalization of $149.02 billion, a price-to-earnings ratio of 50.37, a PEG ratio of 2.68 and a beta of 0.95. Stryker has a 12-month low of $314.93 and a 12-month high of $406.19. The business has a 50-day moving average price of $376.56 and a 200 day moving average price of $362.38. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.86%. During the same quarter in the previous year, the firm earned $3.46 earnings per share. Sell-side analysts expect that Stryker will post 13.53 EPS for the current year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a $0.84 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is presently 43.30%.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Stryker

Several hedge funds have recently made changes to their positions in the company. Dunhill Financial LLC grew its stake in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after buying an additional 37 shares during the last quarter. Centennial Bank AR lifted its stake in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Stryker in the third quarter valued at approximately $36,000. Activest Wealth Management purchased a new position in shares of Stryker during the fourth quarter worth approximately $36,000. Finally, Crews Bank & Trust acquired a new position in shares of Stryker in the 4th quarter valued at $39,000. Hedge funds and other institutional investors 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.