Oppenheimer set a $170.00 price objective on Stryker (NYSE:SYK) in a research note issued to investors on Friday morning. The brokerage currently has a hold rating on the medical technology company’s stock.
Other equities analysts have also recently issued reports about the company. Citigroup lifted their price target on Stryker from $171.00 to $173.00 and gave the company a neutral rating in a research report on Wednesday, July 25th. Cowen set a $195.00 price target on Stryker and gave the company a buy rating in a research report on Friday. BMO Capital Markets reiterated a hold rating and issued a $174.00 price target on shares of Stryker in a research report on Thursday, July 12th. Robert W. Baird lifted their price target on Stryker from $187.00 to $192.00 and gave the company an outperform rating in a research report on Wednesday, July 25th. Finally, Canaccord Genuity reiterated a buy rating and issued a $185.00 price target on shares of Stryker in a research report on Wednesday, July 25th. Seven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company has an average rating of Buy and a consensus target price of $181.81.
NYSE:SYK traded down $0.04 during trading hours on Friday, reaching $171.25. The stock had a trading volume of 1,423,441 shares, compared to its average volume of 1,492,163. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.91 and a quick ratio of 1.21. Stryker has a 12-month low of $146.80 and a 12-month high of $179.84. The company has a market capitalization of $63.52 billion, a P/E ratio of 26.39, a P/E/G ratio of 2.33 and a beta of 0.64.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Friday, September 28th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Thursday, September 27th. Stryker’s dividend payout ratio is 28.97%.
In related news, CFO Glenn S. Boehnlein sold 750 shares of Stryker stock in a transaction on Monday, October 1st. The stock was sold at an average price of $178.17, for a total transaction of $133,627.50. Following the completion of the sale, the chief financial officer now owns 2,785 shares of the company’s stock, valued at $496,203.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Katherine Ann Owen sold 37,866 shares of Stryker stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $166.84, for a total value of $6,317,563.44. Following the sale, the vice president now directly owns 11,367 shares of the company’s stock, valued at approximately $1,896,470.28. The disclosure for this sale can be found here. Insiders have sold 39,031 shares of company stock valued at $6,520,313 in the last three months. 7.40% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Stryker by 2.7% during the second quarter. BlackRock Inc. now owns 24,551,677 shares of the medical technology company’s stock valued at $4,145,795,000 after buying an additional 646,505 shares during the period. FMR LLC lifted its stake in Stryker by 4.8% during the third quarter. FMR LLC now owns 5,581,594 shares of the medical technology company’s stock worth $991,737,000 after purchasing an additional 253,732 shares during the last quarter. Fundsmith Equity Fund L.P. bought a new stake in Stryker during the second quarter worth about $931,542,000. Alliancebernstein L.P. lifted its stake in Stryker by 61.1% during the third quarter. Alliancebernstein L.P. now owns 2,448,502 shares of the medical technology company’s stock worth $435,050,000 after purchasing an additional 928,279 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Stryker by 7.3% during the second quarter. Morgan Stanley now owns 2,305,235 shares of the medical technology company’s stock worth $389,262,000 after purchasing an additional 157,400 shares during the last quarter. 74.71% of the stock is owned by institutional investors.
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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