JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Stryker (NYSE:SYK) Stock

Stryker (NYSE:SYK) had its target price boosted by JPMorgan Chase & Co. from $420.00 to $445.00 in a research report released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical technology company’s stock.

A number of other research analysts have also issued reports on the company. BTIG Research lifted their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Truist Financial upped their target price on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $425.00 price target on shares of Stryker in a research note on Tuesday, January 7th. Barclays raised their price objective on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $413.45.

Stryker Stock Performance

Shares of Stryker stock opened at $390.98 on Wednesday. The firm has a market cap of $149.05 billion, a PE ratio of 41.91, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95. Stryker has a 52 week low of $314.05 and a 52 week high of $406.19. The business’s fifty day simple moving average is $376.44 and its 200-day simple moving average is $361.98. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.07% and a net margin of 16.34%. During the same period last year, the business earned $3.46 EPS. Equities analysts forecast that Stryker will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is presently 36.01%.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Dunhill Financial LLC lifted its holdings in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the period. Centennial Bank AR boosted its position in 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 period. Darwin Wealth Management LLC purchased a new stake in shares of Stryker in the third quarter worth about $36,000. Activest Wealth Management purchased a new position in Stryker in the 4th quarter worth approximately $36,000. Finally, Crews Bank & Trust acquired a new stake in Stryker during the 4th quarter valued at $39,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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.