Stryker (NYSE:SYK) Sets New 12-Month High – What’s Next?

Stryker Co. (NYSE:SYK) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $399.76 and last traded at $395.20, with a volume of 110514 shares. The stock had previously closed at $394.31.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of recent analyst reports. Canaccord Genuity Group lifted their price objective on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. BTIG Research upped their price target on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Robert W. Baird upped their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI lifted their price target on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Stock Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The firm’s 50-day moving average price is $376.32 and its two-hundred day moving average price is $361.59. The stock has a market cap of $150.55 billion, a price-to-earnings ratio of 42.33, a PEG ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 16.34% and a return on equity of 23.07%. During the same period last year, the business posted $3.46 EPS. On average, analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is currently 36.01%.

Insider Transactions at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Stryker

Hedge funds have recently bought and sold shares of the company. Zhang Financial LLC increased its position in shares of Stryker by 55.0% during the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after acquiring an additional 40,784 shares during the period. Dale Q Rice Investment Management Ltd purchased a new position in shares of Stryker in the 4th quarter valued at about $587,000. Berkshire Bank increased its stake in shares of Stryker by 13.8% during the fourth quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock worth $3,056,000 after buying an additional 1,030 shares during the period. PFW Advisors LLC acquired a new stake in Stryker in the fourth quarter valued at approximately $1,350,000. Finally, Traynor Capital Management Inc. acquired a new position in Stryker during the 4th quarter worth approximately $324,000. 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.