Stryker (NYSE:SYK – Free Report) had its price objective lifted by Truist Financial from $409.00 to $413.00 in a research report sent to investors on Thursday morning,Benzinga reports. Truist Financial currently has a hold rating on the medical technology company’s stock.
A number of other equities analysts also recently commented on the company. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Thursday. Citigroup increased their price objective on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Robert W. Baird boosted their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $419.37.
Check Out Our Latest Stock Report on Stryker
Stryker Stock Up 0.1 %
Stryker (NYSE:SYK – Get Free Report) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.86%. During the same period in the previous year, the company posted $3.46 earnings per share. On average, equities analysts anticipate that Stryker will post 13.53 earnings per share for the current fiscal year.
Stryker Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a $0.84 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. Stryker’s payout ratio is presently 43.30%.
Insider Buying and Selling
In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.90% of the stock is owned by insiders.
Hedge Funds Weigh In On Stryker
A number of large investors have recently bought and sold shares of SYK. State Street Corp raised its stake in Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after buying an additional 316,404 shares in the last quarter. FMR LLC increased its position in shares of Stryker by 3.0% during the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after acquiring an additional 215,782 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Stryker by 2.5% in the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after purchasing an additional 165,490 shares during the last quarter. Parnassus Investments LLC purchased a new stake in shares of Stryker during the 3rd quarter valued at about $762,798,000. Finally, Janus Henderson Group PLC grew its position in Stryker by 1.5% in the 3rd quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock worth $711,594,000 after purchasing an additional 28,421 shares during the period. 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.
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