Stryker (NYSE:SYK) PT Raised to $378.00

Stryker (NYSE:SYK) had its price objective increased by Robert W. Baird from $367.00 to $378.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the medical technology company’s stock.

Other equities analysts also recently issued research reports about the company. Citigroup increased their price objective on Stryker from $362.00 to $406.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Canaccord Genuity Group upgraded shares of Stryker from a hold rating to a buy rating and set a $360.00 price objective for the company in a research note on Wednesday, January 31st. Canaccord Genuity Group upgraded shares of Stryker from a hold rating to a buy rating and raised their target price for the company from $315.00 to $360.00 in a research note on Wednesday, January 31st. Wells Fargo & Company raised their target price on Stryker from $336.00 to $364.00 and gave the company an overweight rating in a report on Wednesday, January 31st. Finally, Roth Mkm boosted their price target on Stryker from $345.00 to $348.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Stryker has an average rating of Moderate Buy and an average price target of $365.94.

Stryker Trading Up 0.6 %

Shares of Stryker stock opened at $328.45 on Wednesday. The firm has a market cap of $124.97 billion, a price-to-earnings ratio of 37.49, a price-to-earnings-growth ratio of 2.63 and a beta of 0.91. Stryker has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The company has a quick ratio of 0.97, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The business has a fifty day simple moving average of $347.52 and a 200-day simple moving average of $316.85.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share 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 the consensus estimate of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $2.14 earnings per share. On average, equities analysts forecast that Stryker will post 11.93 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were issued a dividend of $0.80 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.97%. Stryker’s payout ratio is presently 36.53%.

Insider Activity at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were 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 filing with the SEC, which is available through this link. In other news, Director Ronda E. Stryker sold 201,146 shares of the company’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 transaction, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Institutional Trading of Stryker

A number of institutional investors have recently modified their holdings of SYK. Keybank National Association OH boosted its holdings in Stryker by 3.5% in the third quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock valued at $7,603,000 after acquiring an additional 952 shares during the last quarter. Carnegie Capital Asset Management LLC lifted its holdings in Stryker by 0.5% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock valued at $28,820,000 after buying an additional 497 shares during the period. CoreCap Advisors LLC boosted its position in Stryker by 3.9% during the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock valued at $1,506,000 after acquiring an additional 191 shares during the last quarter. Consolidated Planning Corp bought a new position in shares of Stryker in the 4th quarter worth about $205,000. Finally, Meritage Portfolio Management bought a new stake in shares of Stryker during the 4th quarter valued at about $569,000. 77.09% of the stock is currently owned by institutional investors.

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.