Stryker (NYSE:SYK) Given New $386.00 Price Target at Royal Bank of Canada

Stryker (NYSE:SYK) had its target price upped by Royal Bank of Canada from $360.00 to $386.00 in a research note published on Monday morning, Benzinga reports. The firm currently has an outperform rating on the medical technology company’s stock.

A number of other equities analysts have also weighed in on SYK. Evercore ISI increased their target price on Stryker from $340.00 to $370.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Citigroup increased their target price on Stryker from $362.00 to $406.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. Canaccord Genuity Group raised Stryker from a hold rating to a buy rating and set a $360.00 price target on the stock in a research report on Wednesday, January 31st. Canaccord Genuity Group raised Stryker from a hold rating to a buy rating and increased their price target for the stock from $315.00 to $360.00 in a research report on Wednesday, January 31st. Finally, Wells Fargo & Company increased their price target on Stryker from $336.00 to $364.00 and gave the stock an overweight rating in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Stryker currently has a consensus rating of Moderate Buy and an average price target of $340.45.

Stryker Price Performance

NYSE:SYK opened at $327.46 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average price is $350.34 and its two-hundred day moving average price is $312.14. The firm has a market capitalization of $124.59 billion, a price-to-earnings ratio of 39.69, a P/E/G ratio of 2.72 and a beta of 0.89. Stryker has a 12-month low of $249.98 and a 12-month high of $361.41.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.19. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.00 earnings per share. On average, analysts anticipate that Stryker will post 11.86 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Wednesday, March 27th. Stryker’s payout ratio is 38.79%.

Insider Buying and Selling

In related news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the transaction, the director now directly owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 201,146 shares of the business’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 value of $68,972,963.40. Following the completion of the transaction, the director now directly owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Insiders sold a total of 212,109 shares of company stock valued at $72,845,768 in the last three months. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Institutional investors and hedge funds have recently bought and sold shares of the stock. Burkett Financial Services LLC purchased a new stake in Stryker in the 4th quarter valued at $25,000. Farmers & Merchants Trust Co of Chambersburg PA raised its position in 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 last quarter. Quarry LP purchased a new stake in Stryker in the 1st quarter valued at $27,000. Rogco LP purchased a new stake in Stryker in the 4th quarter valued at $30,000. Finally, Clear Street Markets LLC purchased a new stake in Stryker in the 4th quarter valued at $30,000. 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.