Stryker (NYSE:SYK) Price Target Raised to $405.00

by · The Markets Daily

Stryker (NYSE:SYK – Free Report) had its target price upped by Robert W. Baird from $378.00 to $405.00 in a research report released on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the medical technology company’s stock.

Several other brokerages have also recently weighed in on SYK. BTIG Research raised their price objective on Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Evercore ISI boosted their price target on shares of Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Barclays upped their price objective on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Piper Sandler reissued an “overweight” rating and set a $380.00 target price on shares of Stryker in a research report on Tuesday, September 10th. Finally, Morgan Stanley upped their target price on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Read Our Latest Research Report on SYK

Stryker Trading Up 3.1 %

NYSE:SYK opened at $367.15 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 0.95. Stryker has a one year low of $266.93 and a one year high of $374.63. The company has a market cap of $139.96 billion, a PE ratio of 39.35, a PEG ratio of 2.69 and a beta of 0.91. The firm has a 50-day moving average of $360.18 and a 200-day moving average of $344.26.

Stryker (NYSE:SYK – Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the previous year, the company posted $2.46 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities research analysts expect that Stryker will post 12.06 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 34.30%.

Insider Activity at Stryker

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now 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 legal filing with the SEC, which is available at this link. In other news, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated Tuesday, September 17th. The stock was 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 approximately $3,685,213.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 200,068 shares of company stock worth $65,151,372. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Institutional investors and hedge funds have recently bought and sold shares of the company. Centennial Bank AR grew its position in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in Stryker during the first quarter valued at $39,000. HBW Advisory Services LLC purchased a new position in Stryker during the third quarter worth about $42,000. Hara Capital LLC bought a new position in Stryker in the 3rd quarter worth about $42,000. Finally, Grove Bank & Trust raised its holdings in shares of Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 56 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

About Stryker

(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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