Stryker (NYSE:SYK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Stryker (NYSE:SYK) from a hold rating to a buy rating in a research note released on Saturday morning.

A number of other analysts also recently commented on SYK. BTIG Research increased their price objective on shares of Stryker from $407.00 to $408.00 and gave the company a “buy” rating in a report on Monday, October 13th. UBS Group set a $408.00 price objective on shares of Stryker in a report on Monday, October 13th. Redburn Partners set a $420.00 price objective on shares of Stryker in a report on Thursday, September 18th. Rothschild Redb upgraded shares of Stryker to a “hold” rating in a report on Thursday, September 18th. Finally, Rothschild & Co Redburn started coverage on shares of Stryker in a report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price objective for the company. Fifteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $431.76.

Stryker Stock Up 1.8%

SYK opened at $381.27 on Friday. Stryker has a twelve month low of $329.16 and a twelve month high of $406.19. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average price of $379.49 and a 200 day moving average price of $379.09. The company has a market cap of $145.76 billion, a PE ratio of 50.50, a price-to-earnings-growth ratio of 2.70 and a beta of 0.94.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the prior year, the firm earned $2.81 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Sell-side analysts expect that Stryker will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. Stryker’s dividend payout ratio (DPR) is presently 44.50%.

Insider Buying and Selling

In related news, insider Viju Menon sold 500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the transaction, the insider owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the transaction, the director directly owned 3,222,108 shares of the company’s stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Stryker

Hedge funds have recently made changes to their positions in the stock. Consolidated Portfolio Review Corp grew its holdings in shares of Stryker by 4.2% in the 2nd quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company’s stock worth $256,000 after purchasing an additional 26 shares during the last quarter. Princeton Global Asset Management LLC raised its stake in shares of Stryker by 16.9% in the second quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock worth $71,000 after acquiring an additional 26 shares during the last quarter. Sunflower Bank N.A. lifted its position in shares of Stryker by 4.0% during the second quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company’s stock worth $275,000 after purchasing an additional 27 shares in the last quarter. Pitti Group Wealth Management LLC lifted its position in shares of Stryker by 3.2% during the second quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company’s stock worth $341,000 after purchasing an additional 27 shares in the last quarter. Finally, Sachetta LLC lifted its position in shares of Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

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.