Stryker (NYSE:SYK) Price Target Raised to $409.00

Stryker (NYSE:SYK) had its price objective increased by Needham & Company LLC from $393.00 to $409.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the medical technology company’s stock.

Several other analysts also recently issued reports on SYK. Stifel Nicolaus decreased their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and set a $386.00 price target on shares of Stryker in a report on Wednesday, July 31st. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Barclays boosted their target price 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. Finally, BTIG Research increased their price target on shares of Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 14th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Price Performance

Shares of SYK opened at $367.15 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 1.91. The firm 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. Stryker has a twelve month low of $266.93 and a twelve month high of $374.63. The firm’s 50 day moving average price is $360.18 and its 200 day moving average price is $344.26.

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

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a $0.80 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. Stryker’s dividend payout ratio is currently 34.30%.

Insider Buying and Selling

In other Stryker news, insider Viju Menon sold 600 shares of the firm’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 transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction 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 transaction, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,068 shares of company stock valued at $65,151,372 over the last three months. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Centennial Bank AR raised its position in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Central Pacific Bank Trust Division bought a new stake in Stryker during the 1st quarter worth approximately $39,000. HBW Advisory Services LLC bought a new position in Stryker in the third quarter valued at approximately $42,000. Hara Capital LLC acquired a new position in shares of Stryker in the third quarter valued at approximately $42,000. Finally, Grove Bank & Trust increased its position in shares of Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 56 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

About Stryker

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.