Stifel Nicolaus Raises Stryker (NYSE:SYK) Price Target to $375.00

Stryker (NYSE:SYK) had its price target hoisted by Stifel Nicolaus from $350.00 to $375.00 in a report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the medical technology company’s stock.

Several other equities analysts have also commented on SYK. Canaccord Genuity Group raised shares of Stryker from a hold rating to a buy rating and set a $360.00 price target for the company in a research report on Wednesday, January 31st. Wells Fargo & Company raised their price objective on Stryker from $336.00 to $364.00 and gave the company an overweight rating in a research report on Wednesday, January 31st. Needham & Company LLC restated a hold rating on shares of Stryker in a research note on Wednesday. Royal Bank of Canada lifted their target price on Stryker from $360.00 to $386.00 and gave the stock an outperform rating in a research report on Monday, April 15th. Finally, Roth Mkm increased their target price on Stryker from $345.00 to $348.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $365.94.

Stryker Trading Up 0.6 %

Shares of SYK stock opened at $328.45 on Wednesday. Stryker has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a market capitalization of $124.97 billion, a price-to-earnings ratio of 37.49, a PEG ratio of 2.63 and a beta of 0.91. The firm has a 50-day moving average price of $347.52 and a 200 day moving average price of $316.85. The company has a current ratio of 1.71, a quick ratio of 0.97 and a debt-to-equity ratio of 0.56.

Stryker (NYSE:SYK) last issued its quarterly earnings results 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. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. Stryker’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.14 EPS. Research analysts forecast that Stryker will post 11.93 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Keybank National Association OH raised its stake in shares of Stryker by 3.5% in the 3rd quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock worth $7,603,000 after buying an additional 952 shares in the last quarter. Carnegie Capital Asset Management LLC lifted its holdings in Stryker by 0.5% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock valued at $28,820,000 after acquiring an additional 497 shares during the last quarter. CoreCap Advisors LLC grew its stake in shares of Stryker by 3.9% in the 4th quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock worth $1,506,000 after purchasing an additional 191 shares during the last quarter. Consolidated Planning Corp bought a new stake in shares of Stryker in the 4th quarter worth approximately $205,000. Finally, Meritage Portfolio Management bought a new stake in Stryker during the fourth quarter worth approximately $569,000. Institutional investors and hedge funds 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.