Barclays Boosts Stryker (NYSE:SYK) Price Target to $376.00

Stryker (NYSE:SYK) had its price objective increased by Barclays from $372.00 to $376.00 in a report issued on Thursday morning, Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada upped their price target on shares of Stryker from $360.00 to $386.00 and gave the company an outperform rating in a report on Monday, April 15th. Canaccord Genuity Group upgraded 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. Canaccord Genuity Group upgraded shares of Stryker from a hold rating to a buy rating and upped their price target for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Needham & Company LLC reiterated a hold rating on shares of Stryker in a report on Wednesday. Finally, Evercore ISI upped their price target on shares of Stryker from $340.00 to $370.00 and gave the company an outperform rating in a report on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Stryker presently has a consensus rating of Moderate Buy and an average target price of $365.94.

Stryker Stock Up 0.6 %

Shares of SYK stock opened at $328.45 on Thursday. The stock has a market cap of $125.12 billion, a P/E ratio of 37.49, a PEG ratio of 2.56 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 quick ratio of 0.97, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The company’s fifty day simple moving average is $346.99 and its two-hundred day simple moving average is $317.29.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the previous year, the firm posted $2.14 EPS. The business’s quarterly revenue was up 9.7% on a year-over-year basis. Analysts predict that Stryker will post 11.94 EPS for the current fiscal year.

Stryker Announces Dividend

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

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the sale, the director now 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 can be accessed through this hyperlink. 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 transaction of $2,756,711.20. Following the completion of the sale, 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 currently owned by company insiders.

Hedge Funds Weigh In On Stryker

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aspen Investment Management Inc lifted its holdings in Stryker by 0.7% during the first quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock valued at $1,563,000 after purchasing an additional 31 shares in the last quarter. Harbor Investment Advisory LLC lifted its stake in shares of Stryker by 0.4% in the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after buying an additional 31 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in shares of Stryker by 2.4% in the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after buying an additional 33 shares in the last quarter. Bremer Bank National Association lifted its stake in shares of Stryker by 4.0% in the fourth quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock worth $266,000 after buying an additional 34 shares in the last quarter. Finally, Simon Quick Advisors LLC lifted its stake in shares of Stryker by 3.0% in the fourth quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock worth $347,000 after buying an additional 34 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other 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.