Stryker (NYSE:SYK) Stock Price Expected to Rise, Barclays Analyst Says

Stryker (NYSE:SYK) had its price target boosted by Barclays from $402.00 to $418.00 in a report published on Thursday, Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.

A number of other analysts have also recently weighed in on the company. Morgan Stanley increased their price objective on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. increased their price target on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Finally, Needham & Company LLC boosted their price target on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Performance

Shares of Stryker stock opened at $367.15 on Thursday. The firm’s fifty day simple moving average is $360.18 and its 200-day simple moving average is $344.36. Stryker has a 12 month low of $266.93 and a 12 month high of $374.63. The stock has a market capitalization of $139.96 billion, a price-to-earnings ratio of 39.35, a PEG ratio of 2.69 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 0.95.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the previous year, the business posted $2.46 earnings per share. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, equities analysts forecast that Stryker will post 12.06 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently declared 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. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 34.30%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of Stryker 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 in the company, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at $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 have sold 200,068 shares of company stock worth $65,151,372 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Centennial Bank AR boosted its stake in shares of Stryker by 106.7% during the 2nd 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 last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Stryker during the first quarter valued at approximately $39,000. HBW Advisory Services LLC acquired a new stake in Stryker during the third quarter worth approximately $42,000. Hara Capital LLC purchased a new stake in Stryker in the 3rd quarter worth approximately $42,000. Finally, Grove Bank & Trust lifted its stake in shares of Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares during the period. Hedge funds and other institutional investors 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.