Evercore ISI Issues Positive Forecast for Stryker (NYSE:SYK) Stock Price

Stryker (NYSE:SYK) had its price target upped by Evercore ISI from $380.00 to $384.00 in a report issued on Wednesday, Benzinga reports. Evercore ISI currently has an outperform rating on the medical technology company’s stock.

Several other equities research analysts have also commented on the stock. Needham & Company LLC boosted their price target on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report on Wednesday. Wolfe Research started coverage on Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target on the stock. Stifel Nicolaus decreased their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $380.00 price target on shares of Stryker in a report on Tuesday, September 10th. Finally, Truist Financial increased their price target on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Up 3.1 %

Shares of NYSE SYK opened at $367.15 on Wednesday. Stryker has a 52-week low of $266.93 and a 52-week high of $374.63. The firm 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 stock has a 50 day moving average price of $360.18 and a 200 day moving average price of $344.26. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 1.91.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion during 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 business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.46 EPS. Sell-side analysts expect that Stryker will post 12.06 earnings per share for the current year.

Stryker Dividend Announcement

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

Insider Transactions at Stryker

In other news, 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 owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This trade 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 valued at $65,151,372 in the last 90 days. 5.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Stryker

A number of large investors have recently modified their holdings of the business. Centennial Bank AR boosted its position in Stryker by 106.7% during 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 during the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Stryker during the 1st quarter worth approximately $39,000. Hara Capital LLC purchased a new stake in shares of Stryker in the third quarter valued at approximately $42,000. HBW Advisory Services LLC acquired a new stake in shares of Stryker in the third quarter valued at approximately $42,000. Finally, Grove Bank & Trust lifted its position in Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after buying an additional 56 shares in the last quarter. Hedge funds and other 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.