Stryker (NYSE:SYK) Price Target Increased to $369.00 by Analysts at BTIG Research

Stryker (NYSE:SYK) had its price target upped by BTIG Research from $366.00 to $369.00 in a research report released on Wednesday morning, Benzinga reports. BTIG Research currently has a buy rating on the medical technology company’s stock.

A number of other equities research analysts have also weighed in on the company. Citigroup raised their price objective on Stryker from $362.00 to $406.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Royal Bank of Canada raised their price target on shares of Stryker from $360.00 to $386.00 and gave the stock an outperform rating in a research report on Monday, April 15th. Wells Fargo & Company increased their price objective on shares of Stryker from $336.00 to $364.00 and gave the company an overweight rating in a research note on Wednesday, January 31st. TD Cowen raised their price objective on shares of Stryker from $365.00 to $400.00 and gave the stock a buy rating in a report on Thursday, April 11th. Finally, Canaccord Genuity Group upgraded shares of Stryker from a hold rating to a buy rating and upped their target price for the company from $315.00 to $360.00 in a research note on Wednesday, January 31st. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $357.05.

Stryker Price Performance

Shares of SYK stock opened at $328.14 on Wednesday. The firm has a fifty day simple moving average of $348.05 and a 200-day simple moving average of $316.78. The company has a market capitalization of $124.85 billion, a PE ratio of 37.46, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91. Stryker has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.44%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.14 EPS. Equities research analysts anticipate that Stryker will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were given a dividend of $0.80 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.98%. Stryker’s dividend payout ratio is currently 36.53%.

Insider Buying and Selling

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The disclosure for this sale can be found here. Insiders sold a total of 212,109 shares of company stock worth $72,845,768 in the last three months. 5.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in Stryker in the fourth quarter worth about $1,260,562,000. Global Assets Advisory LLC acquired a new stake in shares of Stryker in the 1st quarter worth approximately $341,049,000. Magellan Asset Management Ltd boosted its holdings in shares of Stryker by 74,911.8% in the third quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock valued at $185,921,000 after acquiring an additional 679,450 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Stryker by 5.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after acquiring an additional 642,178 shares during the period. Finally, Barclays PLC raised its holdings in Stryker by 103.5% during the third quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock worth $296,493,000 after purchasing an additional 551,798 shares in the last quarter. 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.