Wells Fargo & Company Boosts Stryker (NYSE:SYK) Price Target to $381.00

Stryker (NYSE:SYK) had its target price lifted by Wells Fargo & Company from $364.00 to $381.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical technology company’s stock.

A number of other brokerages have also weighed in on SYK. Piper Sandler raised their price objective on Stryker from $375.00 to $380.00 and gave the company an overweight rating in a report on Wednesday. BTIG Research raised their price objective on Stryker from $366.00 to $369.00 and gave the company a buy rating in a report on Wednesday. Royal Bank of Canada raised their price objective on Stryker from $360.00 to $386.00 and gave the company an outperform rating in a report on Monday, April 15th. Robert W. Baird raised their price objective on Stryker from $367.00 to $378.00 and gave the company an outperform rating in a report on Wednesday. Finally, Stifel Nicolaus raised their price objective on Stryker from $350.00 to $375.00 and gave the company a buy rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $365.94.

Stryker Trading Up 0.6 %

Shares of NYSE:SYK opened at $328.45 on Wednesday. Stryker has a 1 year low of $249.98 and a 1 year high of $361.41. The firm has a market capitalization of $125.12 billion, a price-to-earnings ratio of 37.49, a price-to-earnings-growth ratio of 2.56 and a beta of 0.91. 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 business’s 50 day moving average price is $346.99 and its 200-day moving average price is $317.29.

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

Stryker Dividend Announcement

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

Insider Buying and Selling

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s 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 completion of the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction dated 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 completion of the transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction dated 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 completion of 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. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

Institutional investors have recently bought and sold shares of the company. Burkett Financial Services LLC purchased a new position in shares of Stryker in the 4th quarter valued at about $25,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in shares of Stryker by 203.3% in 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 buying an additional 61 shares during the period. Rogco LP purchased a new position in shares of Stryker in the 4th quarter valued at about $30,000. DSM Capital Partners LLC purchased a new position in shares of Stryker in the 4th quarter valued at about $34,000. Finally, HBC Financial Services PLLC purchased a new position in shares of Stryker in the 4th quarter valued at about $37,000. 77.09% of the stock is owned by institutional investors and hedge funds.

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.