Stryker Co. (NYSE:SYK) Receives $365.94 Consensus Target Price from Brokerages

Shares of Stryker Co. (NYSE:SYKGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $365.94.

A number of equities research analysts have recently issued reports on SYK shares. Truist Financial boosted their price objective on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Royal Bank of Canada boosted their target price on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Stifel Nicolaus raised their price target on shares of Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and increased their target price for the stock from $315.00 to $360.00 in a research report on Wednesday, January 31st. Finally, StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd.

Check Out Our Latest Stock Report on Stryker

Insider Transactions at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the business’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 sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Stryker

A number of institutional investors and hedge funds have recently bought and sold shares of SYK. Strategic Wealth Partners Ltd. grew its position in shares of Stryker by 5.1% in the 1st quarter. Strategic Wealth Partners Ltd. now owns 17,893 shares of the medical technology company’s stock valued at $6,403,000 after buying an additional 871 shares during the last quarter. Algebris UK Ltd raised its holdings in Stryker by 15.2% during the 1st quarter. Algebris UK Ltd now owns 2,644 shares of the medical technology company’s stock worth $877,000 after purchasing an additional 349 shares during the last quarter. Wahed Invest LLC lifted its position in shares of Stryker by 15.1% in the 1st quarter. Wahed Invest LLC now owns 6,983 shares of the medical technology company’s stock worth $2,499,000 after purchasing an additional 915 shares during the period. Citizens Financial Group Inc. RI boosted its stake in shares of Stryker by 17.2% in the 1st quarter. Citizens Financial Group Inc. RI now owns 2,540 shares of the medical technology company’s stock valued at $909,000 after purchasing an additional 372 shares during the last quarter. Finally, Advisory Resource Group increased its position in shares of Stryker by 13.3% during the first quarter. Advisory Resource Group now owns 1,250 shares of the medical technology company’s stock worth $447,000 after buying an additional 147 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of SYK opened at $329.73 on Friday. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $341.69 and a 200 day simple moving average of $322.91. The stock has a market capitalization of $125.61 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 2.61 and a beta of 0.91. Stryker has a 12 month low of $249.98 and a 12 month high of $361.41.

Stryker (NYSE:SYKGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter last year, the company posted $2.14 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. Research analysts forecast that Stryker will post 11.94 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. Stryker’s dividend payout ratio is currently 36.53%.

Stryker Company Profile

(Get Free Report

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.

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Analyst Recommendations for Stryker (NYSE:SYK)

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