Stryker (NYSE:SYK) Price Target Increased to $351.00 by Analysts at UBS Group

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

Several other analysts also recently issued reports on the stock. Canaccord Genuity Group raised shares of Stryker from a hold rating to a buy rating and set a $360.00 price target on the stock in a report on Wednesday, January 31st. Piper Sandler raised their price target on Stryker from $375.00 to $380.00 and gave the stock an overweight rating in a research report on Wednesday. TD Cowen increased their price objective on Stryker from $365.00 to $400.00 and gave the company a buy rating in a research note on Thursday, April 11th. Evercore ISI upped their target price on shares of Stryker from $340.00 to $370.00 and gave the company an outperform rating in a report on Thursday, April 4th. Finally, BTIG Research lifted their price target on shares of Stryker from $366.00 to $369.00 and gave the stock a buy rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $365.94.

Stryker Stock Performance

Shares of SYK opened at $328.45 on Wednesday. The company has a market capitalization of $124.97 billion, a PE ratio of 37.49, a P/E/G ratio of 2.63 and a beta of 0.91. Stryker has a 52-week low of $249.98 and a 52-week high of $361.41. The company has a 50-day simple moving average of $347.52 and a 200-day simple moving average of $316.85. The company has a quick ratio of 0.97, a current ratio of 1.71 and a debt-to-equity ratio of 0.56.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.14 EPS. Equities research analysts predict that Stryker will post 11.93 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed 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 (DPR) is 36.53%.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the firm’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 transaction of $68,972,963.40. Following the completion of the sale, 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 SEC, which is available through the SEC website. In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction on Monday, February 5th. The shares were 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 approximately $1,287,633,391.20. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

A number of large investors have recently bought and sold shares of the business. Burkett Financial Services LLC bought a new position in shares of Stryker in the fourth quarter valued at approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in 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 valued at $27,000 after purchasing an additional 61 shares in the last quarter. Rogco LP acquired a new position in shares of Stryker during the 4th quarter valued at $30,000. DSM Capital Partners LLC bought a new stake in shares of Stryker in the 4th quarter worth $34,000. Finally, HBC Financial Services PLLC acquired a new stake in shares of Stryker in the fourth quarter valued at $37,000. 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.