Stryker (SYK) – Research Analysts’ Recent Ratings Changes

A number of research firms have changed their ratings and price targets for Stryker (NYSE: SYK):

• 10/14/2024 – Stryker had its price target raised by analysts at Truist Financial Co. from $345.00 to $370.00. They now have a “hold” rating on the stock.
• 10/14/2024 – Stryker had its price target raised by analysts at BTIG Research from $374.00 to $383.00. They now have a “buy” rating on the stock.
• 10/1/2024 – Stryker had its price target raised by analysts at Evercore ISI from $365.00 to $380.00. They now have an “outperform” rating on the stock.
• 10/1/2024 – Stryker was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 9/16/2024 – Stryker was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 9/10/2024 – Stryker had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $380.00 price target on the stock.
• 9/10/2024 – Stryker is now covered by analysts at Wolfe Research. They set an “outperform” rating and a $405.00 price target on the stock.
• 8/28/2024 – Stryker had its price target raised by analysts at BTIG Research from $360.00 to $374.00. They now have a “buy” rating on the stock.

Stryker Stock Performance

NYSE:SYK opened at $361.38 on Thursday. The stock’s 50-day moving average is $354.28 and its 200-day moving average is $343.09. Stryker Co. has a 1-year low of $255.22 and a 1-year high of $374.63. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The stock has a market cap of $137.67 billion, a P/E ratio of 41.25, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91.

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

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio is presently 36.53%.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction 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 sale, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is currently owned by insiders.

Institutional Trading of Stryker

Several hedge funds have recently modified their holdings of the stock. Koshinski Asset Management Inc. bought a new stake in Stryker in the first quarter valued at $795,000. Envestnet Portfolio Solutions Inc. raised its stake in Stryker by 43.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after buying an additional 5,565 shares during the period. Norden Group LLC acquired a new position in Stryker during the 1st quarter worth approximately $4,027,000. International Assets Investment Management LLC bought a new position in Stryker in the first quarter worth approximately $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Stryker by 38.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after acquiring an additional 5,502 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

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.