Canaccord Genuity Group Raises Stryker (NYSE:SYK) Price Target to $435.00

Stryker (NYSE:SYK) had its price objective upped by Canaccord Genuity Group from $420.00 to $435.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the medical technology company’s stock.

A number of other brokerages have also recently commented on SYK. JMP Securities restated a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Wells Fargo & Company lifted their price target on shares of Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Barclays upped their price target 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. Robert W. Baird upped their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Evercore ISI increased their price target on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average price target of $419.37.

Stryker Price Performance

Shares of NYSE:SYK opened at $390.90 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $149.02 billion, a PE ratio of 50.37, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95. The firm’s 50 day moving average price is $376.56 and its 200-day moving average price is $362.38. Stryker has a twelve month low of $314.93 and a twelve month high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.86%. During the same quarter in the previous year, the firm posted $3.46 EPS. Equities research analysts expect that Stryker will post 13.53 EPS for the current year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a $0.84 dividend. The ex-dividend date was Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. Stryker’s payout ratio is 43.30%.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 5.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Stryker

Large investors have recently modified their holdings of the stock. Dunhill Financial LLC boosted its stake in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after buying an additional 37 shares during the period. Centennial Bank AR lifted its holdings in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Stryker during the 3rd quarter worth about $36,000. Activest Wealth Management bought a new position in Stryker during the 4th quarter valued at about $36,000. Finally, Crews Bank & Trust purchased a new stake in Stryker in the 4th quarter worth about $39,000. 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.