Stryker (NYSE:SYK) Price Target Raised to $383.00

Stryker (NYSE:SYK) had its price target upped by BTIG Research from $374.00 to $383.00 in a report released on Monday, Benzinga reports. The brokerage currently has a buy rating on the medical technology company’s stock.

Several other equities analysts have also issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Wolfe Research started coverage on Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a research note on Wednesday, July 31st. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Finally, Needham & Company LLC lifted their price target on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $381.16.

Stryker Price Performance

SYK stock opened at $361.38 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. Stryker has a 52-week low of $255.22 and a 52-week high of $374.63. The company has a market capitalization of $137.67 billion, a P/E ratio of 41.25, a PEG ratio of 2.78 and a beta of 0.91. The company has a fifty day moving average price of $354.28 and a 200-day moving average price of $343.09.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the prior year, the firm posted $2.54 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities analysts expect that Stryker will post 12 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insiders Place Their Bets

In other news, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,068 shares of company stock valued at $71,811,372. Corporate 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. Harbour Capital Advisors LLC purchased a new position in shares of Stryker during the 3rd quarter valued at $216,000. TruWealth Advisors LLC boosted its position in Stryker by 4.8% during the third quarter. TruWealth Advisors LLC now owns 1,799 shares of the medical technology company’s stock worth $650,000 after purchasing an additional 83 shares during the period. Global Retirement Partners LLC increased its stake in shares of Stryker by 1.7% in the third quarter. Global Retirement Partners LLC now owns 6,183 shares of the medical technology company’s stock worth $2,234,000 after purchasing an additional 103 shares in the last quarter. Good Life Advisors LLC raised its position in shares of Stryker by 16.1% in the third quarter. Good Life Advisors LLC now owns 3,618 shares of the medical technology company’s stock valued at $1,309,000 after purchasing an additional 502 shares during the period. Finally, nVerses Capital LLC bought a new position in Stryker in the 3rd quarter worth approximately $975,000. 77.09% of the stock is owned by 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.