Stryker (NYSE:SYK) PT Raised to $378.00

Stryker (NYSE:SYK) had its price target boosted by Robert W. Baird from $367.00 to $378.00 in a research note released on Wednesday, Benzinga reports. Robert W. Baird currently has an outperform rating on the medical technology company’s stock.

Several other equities analysts have also commented on the company. Canaccord Genuity Group raised Stryker from a hold rating to a buy rating and set a $360.00 target price on the stock in a report on Wednesday, January 31st. Royal Bank of Canada increased their price objective on Stryker from $360.00 to $386.00 and gave the company an outperform rating in a report on Monday, April 15th. StockNews.com upgraded Stryker from a hold rating to a buy rating in a research note on Tuesday, January 23rd. Roth Mkm increased their price target on shares of Stryker from $345.00 to $348.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Finally, Citigroup raised their price objective on shares of Stryker from $362.00 to $406.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $365.94.

Stryker Stock Performance

Shares of Stryker stock opened at $328.45 on Wednesday. The business has a 50-day simple moving average of $346.99 and a 200-day simple moving average of $317.29. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.97 and a current ratio of 1.71. Stryker has a one year low of $249.98 and a one year high of $361.41. The company has a market cap of $125.12 billion, a PE ratio of 37.49, a P/E/G ratio of 2.55 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the previous year, the firm earned $2.14 earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities research analysts forecast that Stryker will post 11.94 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Wednesday, March 27th. Stryker’s dividend payout ratio is currently 36.53%.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of Stryker 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 transaction, the director now directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction dated 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 sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Stryker

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Keybank National Association OH grew its holdings in Stryker by 3.5% during the third quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock worth $7,603,000 after acquiring an additional 952 shares during the period. Carnegie Capital Asset Management LLC grew its stake in shares of Stryker by 0.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock worth $28,820,000 after purchasing an additional 497 shares during the period. CoreCap Advisors LLC increased its holdings in shares of Stryker by 3.9% in the 4th quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock valued at $1,506,000 after purchasing an additional 191 shares in the last quarter. Consolidated Planning Corp purchased a new position in shares of Stryker in the 4th quarter valued at about $205,000. Finally, Meritage Portfolio Management acquired a new stake in shares of Stryker in the fourth quarter valued at about $569,000. Institutional investors and hedge funds 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.