Stryker (NYSE:SYK) Price Target Raised to $440.00

Stryker (NYSE:SYK) had its price target boosted by Stifel Nicolaus from $400.00 to $440.00 in a research report released on Wednesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the medical technology company’s stock.

SYK has been the topic of several other reports. BTIG Research raised their price objective on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Robert W. Baird increased their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays lifted their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, UBS Group lifted their price objective on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $413.45.

Stryker Trading Down 1.1 %

NYSE SYK opened at $390.98 on Wednesday. Stryker has a 52 week low of $314.05 and a 52 week high of $406.19. 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 has a market cap of $149.05 billion, a P/E ratio of 41.91, a PEG ratio of 2.68 and a beta of 0.95. The company’s fifty day simple moving average is $376.44 and its 200-day simple moving average is $361.98.

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

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is currently 36.01%.

Insider Activity

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dunhill Financial LLC lifted its position 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 purchasing an additional 37 shares during the last quarter. Centennial Bank AR lifted its position in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Stryker during the 3rd quarter worth about $36,000. Activest Wealth Management acquired a new stake in Stryker during the fourth quarter valued at approximately $36,000. Finally, Crews Bank & Trust bought a new stake in Stryker in the fourth quarter valued at $39,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Company Profile

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.