Stryker (NYSE:SYK) Hits New 1-Year High at $374.63

Stryker Co. (NYSE:SYK)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $374.63 and last traded at $372.98, with a volume of 50842 shares changing hands. The stock had previously closed at $370.25.

Analyst Upgrades and Downgrades

SYK has been the subject of several recent analyst reports. Barclays lifted 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. Stifel Nicolaus cut their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $386.00 price target on shares of Stryker in a report on Wednesday, July 31st. Needham & Company LLC increased their price target on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group assumed coverage on shares of Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price objective for the company. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $378.58.

Stryker Stock Performance

The company has a market capitalization of $141.51 billion, a price-to-earnings ratio of 42.27, a P/E/G ratio of 2.84 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The stock’s 50-day moving average price is $342.26 and its 200-day moving average price is $342.37.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping 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 return on equity of 22.89% and a net margin of 16.12%. Stryker’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.54 earnings per share. As a group, equities research analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.86%. Stryker’s dividend payout ratio (DPR) is 36.53%.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Viju Menon sold 600 shares of the stock in a transaction that occurred 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. The disclosure for this sale can be found here. Insiders have sold a total of 210,600 shares of company stock valued at $68,330,400 over the last quarter. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Burkett Financial Services LLC acquired a new stake in Stryker during the 4th quarter worth approximately $25,000. Centennial Bank AR increased its position in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares in the last quarter. DSM Capital Partners LLC acquired a new position in shares of Stryker during the 4th quarter valued at $34,000. Central Pacific Bank Trust Division acquired a new stake in Stryker in the 1st quarter valued at $39,000. Finally, Accent Capital Management LLC purchased a new position in Stryker in the fourth quarter valued at about $60,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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.