BTIG Research Increases Stryker (NYSE:SYK) Price Target to $369.00

Stryker (NYSE:SYK) had its target price boosted by BTIG Research from $366.00 to $369.00 in a report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the medical technology company’s stock.

SYK has been the topic of several other research reports. Truist Financial upped their target price on Stryker from $330.00 to $345.00 and gave the company a hold rating in a research report on Wednesday, January 31st. Evercore ISI upped their target price on Stryker from $340.00 to $370.00 and gave the company an outperform rating in a research report on Thursday, April 4th. Wells Fargo & Company increased their price target on Stryker from $336.00 to $364.00 and gave the stock an overweight rating in a report on Wednesday, January 31st. StockNews.com upgraded Stryker from a hold rating to a buy rating in a report on Tuesday, January 23rd. Finally, Canaccord Genuity Group upgraded 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. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $365.94.

Stryker Trading Up 0.6 %

NYSE SYK opened at $328.45 on Wednesday. The business’s 50-day moving average price is $346.99 and its two-hundred day moving average price is $317.29. Stryker has a 12 month low of $249.98 and a 12 month high of $361.41. The firm has a market capitalization of $125.12 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 2.55 and a beta of 0.91. 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 announced its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the prior year, the company earned $2.14 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, analysts expect that Stryker will post 11.94 EPS for the current year.

Stryker Dividend Announcement

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

Insider Transactions at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction that occurred 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 directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Ronda E. Stryker sold 201,146 shares of the 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 directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of the 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 of the company’s stock, valued at $1,317,414. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

Several institutional investors and hedge funds have recently bought and sold shares of the company. WBI Investments LLC bought a new position in Stryker during the first quarter valued at $1,967,000. Catalina Capital Group LLC grew its holdings in Stryker by 103.9% during the first quarter. Catalina Capital Group LLC now owns 1,527 shares of the medical technology company’s stock valued at $546,000 after purchasing an additional 778 shares during the period. Avidian Wealth Solutions LLC grew its holdings in Stryker by 33.9% during the first quarter. Avidian Wealth Solutions LLC now owns 2,385 shares of the medical technology company’s stock valued at $853,000 after purchasing an additional 604 shares during the period. Mediolanum International Funds Ltd bought a new position in Stryker during the first quarter valued at $18,694,000. Finally, Larson Financial Group LLC grew its holdings in Stryker by 1.6% during the first quarter. Larson Financial Group LLC now owns 10,577 shares of the medical technology company’s stock valued at $3,785,000 after purchasing an additional 171 shares during the period. 77.09% of the stock is owned by 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.