Stryker (NYSE:SYK) Upgraded at StockNews.com

StockNews.com upgraded shares of Stryker (NYSE:SYK) from a hold rating to a buy rating in a research report report published on Thursday.

Several other equities analysts have also issued reports on SYK. Citigroup raised their price target on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Evercore ISI raised their target price on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Canaccord Genuity Group upped their price target on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $425.00 price objective on shares of Stryker in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average target price of $405.80.

Stryker Stock Up 0.5 %

Shares of NYSE SYK opened at $366.04 on Thursday. The stock has a market capitalization of $139.54 billion, a P/E ratio of 39.23, a PEG ratio of 2.82 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker has a one year low of $306.10 and a one year high of $398.20. The firm’s 50 day simple moving average is $375.40 and its two-hundred day simple moving average is $357.83.

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

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.92%. Stryker’s dividend payout ratio is currently 36.01%.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SYK. Prudential PLC lifted its position in Stryker by 17.0% in the 2nd quarter. Prudential PLC now owns 5,660 shares of the medical technology company’s stock valued at $1,926,000 after acquiring an additional 822 shares in the last quarter. Hazlett Burt & Watson Inc. increased its holdings in Stryker by 47.3% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 389 shares of the medical technology company’s stock worth $132,000 after buying an additional 125 shares in the last quarter. American Century Companies Inc. increased its holdings in Stryker by 287.6% in the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after buying an additional 375,166 shares in the last quarter. Qsemble Capital Management LP purchased a new position in Stryker in the 2nd quarter worth about $1,363,000. Finally, Johnson Investment Counsel Inc. lifted its stake in Stryker by 1,065.9% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 114,329 shares of the medical technology company’s stock valued at $38,901,000 after acquiring an additional 104,523 shares during the period. 77.09% of the stock is owned by hedge funds and other 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.