Stryker (NYSE:SYK) Price Target Raised to $411.00

Stryker (NYSE:SYK) had its target price increased by Citigroup from $406.00 to $411.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the medical technology company’s stock.

Several other equities analysts have also recently weighed in on the company. Piper Sandler restated an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a report on Wednesday. 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. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. UBS Group lifted their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Needham & Company LLC raised their target price on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research report on Wednesday. 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Trading Up 3.1 %

Shares of Stryker stock opened at $367.15 on Thursday. 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 company has a fifty day moving average of $360.18 and a 200 day moving average of $344.31. The company has a market capitalization of $139.96 billion, a P/E ratio of 39.35, a P/E/G ratio of 2.69 and a beta of 0.91. Stryker has a fifty-two week low of $266.93 and a fifty-two week high of $374.63.

Stryker (NYSE:SYK) last posted its quarterly earnings results 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. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.46 EPS. On average, sell-side analysts anticipate that Stryker will post 12.06 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated 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 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 200,068 shares of company stock worth $65,151,372. 5.90% of the stock is currently owned by insiders.

Institutional Trading of Stryker

Institutional investors have recently modified their holdings of the stock. Norden Group LLC purchased a new position in Stryker in the 1st quarter valued at $4,027,000. Kovack Advisors Inc. purchased a new position in Stryker during the first quarter worth about $224,000. J.W. Cole Advisors Inc. increased its holdings in Stryker by 6.8% in the 1st quarter. J.W. Cole Advisors Inc. now owns 2,606 shares of the medical technology company’s stock valued at $933,000 after purchasing an additional 166 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Stryker by 4.4% in the first quarter. Private Advisor Group LLC now owns 15,310 shares of the medical technology company’s stock valued at $5,479,000 after buying an additional 652 shares in the last quarter. Finally, Mission Wealth Management LP increased its stake in Stryker by 201.2% during the first quarter. Mission Wealth Management LP now owns 6,258 shares of the medical technology company’s stock worth $2,240,000 after purchasing an additional 4,180 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

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.