Stryker (NYSE:SYK) Price Target Raised to $400.00

Stryker (NYSE:SYK) had its target price raised by TD Cowen from $365.00 to $400.00 in a research note issued to investors on Thursday, Benzinga reports. TD Cowen currently has a buy rating on the medical technology company’s stock.

SYK has been the topic of a number of other reports. Citigroup lifted their target price on Stryker from $362.00 to $406.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. Canaccord Genuity Group raised Stryker from a hold rating to a buy rating and set a $360.00 target price on the stock in a research report on Wednesday, January 31st. Canaccord Genuity Group raised Stryker from a hold rating to a buy rating and lifted their target price for the stock from $315.00 to $360.00 in a research report on Wednesday, January 31st. Truist Financial boosted their price objective on Stryker from $330.00 to $345.00 and gave the company a hold rating in a report on Wednesday, January 31st. Finally, Evercore ISI boosted their price objective on Stryker from $340.00 to $370.00 and gave the company an outperform rating in a report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Stryker currently has a consensus rating of Moderate Buy and a consensus price target of $338.09.

Stryker Trading Down 1.2 %

Shares of SYK opened at $342.05 on Thursday. The stock’s 50-day moving average is $350.82 and its two-hundred day moving average is $310.95. The stock has a market cap of $130.14 billion, a PE ratio of 41.46, a P/E/G ratio of 2.75 and a beta of 0.89. Stryker has a 12 month low of $249.98 and a 12 month high of $361.41. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.00 earnings per share. Equities analysts forecast that Stryker will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th 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 0.94%. The ex-dividend date is Wednesday, March 27th. Stryker’s payout ratio is 38.79%.

Insider Transactions at Stryker

In related news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Ronda E. Stryker sold 201,146 shares of the 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 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Allan C. Golston sold 3,273 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the transaction, the director now directly owns 14,242 shares of the company’s stock, valued at $4,856,522. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 212,109 shares of company stock worth $72,845,768. 5.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Stryker

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Burkett Financial Services LLC bought a new position in Stryker during the 4th quarter valued at $25,000. Freedom Wealth Alliance LLC bought a new stake in shares of Stryker during the 4th quarter worth $26,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in shares of Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 61 shares in the last quarter. Quarry LP bought a new stake in shares of Stryker during the 1st quarter worth $27,000. Finally, Rise Advisors LLC boosted its stake in shares of Stryker by 692.9% during the 3rd quarter. Rise Advisors LLC now owns 111 shares of the medical technology company’s stock worth $30,000 after acquiring an additional 97 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

About Stryker

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.