Stryker (NYSE:SYK) Stock Price Expected to Rise, Truist Financial Analyst Says

Stryker (NYSE:SYK) had its price target raised by Truist Financial from $370.00 to $380.00 in a report released on Wednesday, Benzinga reports. Truist Financial currently has a hold rating on the medical technology company’s stock.

Several other equities analysts have also commented on SYK. Needham & Company LLC lifted their target price on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday. Morgan Stanley raised their target price on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $386.00 price target on shares of Stryker in a research note on Wednesday, July 31st. Finally, UBS Group increased their price target on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Trading Up 3.1 %

Shares of NYSE SYK opened at $367.15 on Wednesday. Stryker has a twelve month low of $266.93 and a twelve month high of $374.63. The firm has a market cap of $139.96 billion, a PE ratio of 39.35, a price-to-earnings-growth ratio of 2.69 and a beta of 0.91. The business has a fifty day simple moving average of $360.18 and a two-hundred day simple moving average of $344.31. The company has a quick ratio of 0.95, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

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

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 34.30%.

Insider Buying and Selling

In other news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the sale, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP M Kathryn Fink sold 7,347 shares of the 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 completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated 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 $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. In the last quarter, insiders sold 200,068 shares of company stock valued at $65,151,372. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Stryker

A number of institutional investors have recently added to or reduced their stakes in SYK. Norden Group LLC purchased a new stake in shares of Stryker during the 1st quarter valued at approximately $4,027,000. Kovack Advisors Inc. purchased a new position in shares of Stryker during the 1st quarter worth $224,000. New Century Financial Group LLC acquired a new stake in shares of Stryker during the 1st quarter worth about $220,000. Maryland State Retirement & Pension System raised its holdings in Stryker by 0.9% in the 1st quarter. Maryland State Retirement & Pension System now owns 27,892 shares of the medical technology company’s stock valued at $9,347,000 after buying an additional 236 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its position in Stryker by 6.8% in the first quarter. J.W. Cole Advisors Inc. now owns 2,606 shares of the medical technology company’s stock valued at $933,000 after buying an additional 166 shares during the last quarter. Hedge funds and other 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.