Stryker (NYSE:SYK) Price Target Raised to $351.00

Stryker (NYSE:SYK) had its price target upped by UBS Group from $339.00 to $351.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the medical technology company’s stock.

A number of other analysts have also commented on the company. TD Cowen lifted their price objective on Stryker from $365.00 to $400.00 and gave the stock a buy rating in a research report on Thursday, April 11th. Canaccord Genuity Group upgraded shares of Stryker from a hold rating to a buy rating and set a $360.00 target price for the company in a research report on Wednesday, January 31st. Wells Fargo & Company lifted their price objective on Stryker from $336.00 to $364.00 and gave the stock an overweight rating in a research note on Wednesday, January 31st. Robert W. Baird increased their target price on Stryker from $367.00 to $378.00 and gave the company an outperform rating in a research note on Wednesday. Finally, Roth Mkm boosted their price objective on shares of Stryker from $345.00 to $348.00 and gave the company a buy rating in a report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $365.94.

Stryker Stock Performance

Shares of NYSE:SYK opened at $328.45 on Wednesday. The business has a fifty day moving average of $346.99 and a 200-day moving average of $317.29. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.97 and a current ratio of 1.71. Stryker has a twelve month low of $249.98 and a twelve month high of $361.41. The firm has a market cap of $125.12 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 2.56 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter last year, the company posted $2.14 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that Stryker will post 11.94 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were issued a $0.80 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.97%. Stryker’s dividend payout ratio is currently 36.53%.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the sale, the director now directly owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The sale was disclosed in a filing with the SEC, which is available at this link. In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Burkett Financial Services LLC bought a new position in Stryker in the fourth quarter valued at approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 61 shares during the last quarter. Rogco LP acquired a new position in shares of Stryker during the 4th quarter worth $30,000. DSM Capital Partners LLC bought a new stake in shares of Stryker during the 4th quarter worth $34,000. Finally, HBC Financial Services PLLC bought a new stake in shares of Stryker during the 4th quarter worth $37,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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.