Stryker Co. (NYSE:SYK) Given Average Rating of “Moderate Buy” by Analysts

Stryker Co. (NYSE:SYK) has been given an average rating of “Moderate Buy” by the twenty research firms that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $405.80.

A number of analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC upped their price objective on Stryker from $409.00 to $442.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Wells Fargo & Company raised their price objective on Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Truist Financial boosted their target price on shares of Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Finally, Evercore ISI raised their price target on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th.

Stryker Stock Performance

Shares of Stryker stock opened at $361.52 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock’s fifty day moving average price is $375.23 and its 200-day moving average price is $357.07. The firm has a market cap of $137.82 billion, a P/E ratio of 38.75, a P/E/G ratio of 2.82 and a beta of 0.95. Stryker has a 12 month low of $292.96 and a 12 month high of $398.20.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter last year, the firm posted $2.46 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities research analysts expect that Stryker will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.93%. Stryker’s dividend payout ratio is currently 36.01%.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYK. Dunhill Financial LLC boosted its stake in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares in the last quarter. Centennial Bank AR increased its holdings in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Stryker during the third quarter worth $36,000. Hara Capital LLC purchased a new position in Stryker during the third quarter valued at $42,000. Finally, HBW Advisory Services LLC acquired a new stake in shares of Stryker in the third quarter valued at about $42,000. 77.09% of the stock is owned by institutional investors and hedge funds.

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.