Stryker (NYSE:SYK) PT Raised to $386.00 at Royal Bank of Canada

Stryker (NYSE:SYK) had its price target hoisted by Royal Bank of Canada from $360.00 to $386.00 in a report published on Monday morning, Benzinga reports. The firm currently has an outperform rating on the medical technology company’s stock.

Several other research analysts have also recently commented on SYK. Canaccord Genuity Group upgraded shares of Stryker from a hold rating to a buy rating and increased their target price for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. Evercore ISI increased their target price on shares of Stryker from $340.00 to $370.00 and gave the stock an outperform rating in a report on Thursday, April 4th. Citigroup increased their target price on shares of Stryker from $362.00 to $406.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Wells Fargo & Company increased their target price on shares of Stryker from $336.00 to $364.00 and gave the stock an overweight rating in a report on Wednesday, January 31st. Finally, TD Cowen increased their price target on shares of Stryker from $365.00 to $400.00 and gave the company a buy rating in a research note on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker has an average rating of Moderate Buy and a consensus target price of $340.45.

Stryker Stock Down 0.5 %

Stryker stock opened at $336.03 on Monday. The stock has a market capitalization of $127.85 billion, a PE ratio of 40.73, a price-to-earnings-growth ratio of 2.73 and a beta of 0.89. Stryker has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $350.57 and a 200-day moving average of $312.03.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping the consensus estimate of $3.27 by $0.19. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The business had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. During the same quarter in the prior year, the company posted $3.00 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. On average, equities research analysts anticipate that Stryker will post 11.86 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s payout ratio is presently 38.79%.

Insider Activity

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the transaction, the director now directly owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock valued at $72,845,768 over the last ninety days. 5.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Stryker

Several hedge funds have recently bought and sold shares of SYK. Burkett Financial Services LLC acquired a new stake in shares of Stryker in the 4th quarter valued at approximately $25,000. Freedom Wealth Alliance LLC acquired a new stake in shares of Stryker in the 4th quarter valued at approximately $26,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in shares of Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 61 shares in the last quarter. Quarry LP acquired a new stake in shares of Stryker in the 1st quarter valued at approximately $27,000. Finally, Rogco LP acquired a new stake in shares of Stryker in the 4th quarter valued at approximately $30,000. 77.09% of the stock is owned by institutional investors.

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.