Stryker (NYSE:SYK) Given New $405.00 Price Target at Wells Fargo & Company

Stryker (NYSE:SYK) had its price objective upped by Wells Fargo & Company from $381.00 to $405.00 in a report issued on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical technology company’s stock.

A number of other equities analysts also recently commented on SYK. BTIG Research lifted their target price on Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Morgan Stanley lifted their target price on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Stifel Nicolaus decreased their target price on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and issued a $386.00 target price on shares of Stryker in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Stock Up 3.1 %

NYSE:SYK opened at $367.15 on Wednesday. The company has a market capitalization of $139.96 billion, a price-to-earnings ratio of 39.35, a price-to-earnings-growth ratio of 2.69 and a beta of 0.91. Stryker has a one year low of $266.93 and a one year high of $374.63. The stock has a 50-day simple moving average of $360.18 and a 200 day simple moving average of $344.31. 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 posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm earned $2.46 earnings per share. Sell-side analysts predict that Stryker will post 12.06 EPS for the current fiscal year.

Stryker Announces Dividend

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

Insider Buying and Selling at Stryker

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 200,068 shares of company stock valued at $65,151,372. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYK. Centennial Bank AR grew its holdings in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Stryker during the first quarter valued at about $39,000. HBW Advisory Services LLC acquired a new position in shares of Stryker during the third quarter valued at about $42,000. Hara Capital LLC acquired a new position in Stryker in the third quarter worth about $42,000. Finally, Grove Bank & Trust raised its position in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

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.