Stryker (NYSE:SYK) Price Target Increased to $405.00 by Analysts at Roth Mkm

Stryker (NYSE:SYK) had its target price hoisted by Roth Mkm from $348.00 to $405.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a buy rating on the medical technology company’s stock.

Several other equities research analysts also recently weighed in on the company. Piper Sandler upped their price target on Stryker from $375.00 to $380.00 and gave the stock an overweight rating in a report on Wednesday. Citigroup boosted their price target on shares of Stryker from $362.00 to $406.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Robert W. Baird raised their price objective on shares of Stryker from $367.00 to $378.00 and gave the company an outperform rating in a report on Wednesday. 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 report on Wednesday, January 31st. Finally, Royal Bank of Canada upped their price objective on Stryker from $360.00 to $386.00 and gave the stock an outperform rating in a research report on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $365.94.

Stryker Stock Performance

NYSE SYK opened at $328.45 on Wednesday. The company has a market cap of $124.97 billion, a P/E ratio of 37.49, a P/E/G ratio of 2.63 and a beta of 0.91. Stryker has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.97. The stock has a 50-day moving average of $347.52 and a two-hundred day moving average of $316.85.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.14 earnings per share. As a group, analysts anticipate that Stryker will post 11.93 EPS for the current year.

Stryker Announces Dividend

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

Insider Transactions at Stryker

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s 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 owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction dated 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 transaction, the director now directly owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated 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 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

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