Stryker Co. (NYSE:SYK) Receives $420.68 Average Target Price from Brokerages

Stryker Co. (NYSE:SYK) has been assigned an average recommendation of “Moderate Buy” from the twenty brokerages that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $422.15.

A number of equities analysts have issued reports on the stock. Evercore ISI lifted their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Citigroup lifted their price objective on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Canaccord Genuity Group lifted their price objective on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a report on Tuesday, February 18th. Finally, Stifel Nicolaus lifted their price objective on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th.

Stryker Stock Performance

NYSE:SYK opened at $382.59 on Monday. The company has a fifty day moving average of $378.07 and a 200-day moving average of $369.34. Stryker has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $145.99 billion, a P/E ratio of 49.30, a P/E/G ratio of 2.93 and a beta of 0.96.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the prior year, the company posted $3.46 earnings per share. As a group, sell-side analysts anticipate that Stryker will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio is presently 43.30%.

Insider Activity

In other news, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the sale, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. American Trust grew its holdings in shares of Stryker by 2.5% during the fourth quarter. American Trust now owns 12,820 shares of the medical technology company’s stock worth $4,616,000 after purchasing an additional 317 shares in the last quarter. Ascent Group LLC grew its holdings in shares of Stryker by 5.6% during the fourth quarter. Ascent Group LLC now owns 4,083 shares of the medical technology company’s stock worth $1,470,000 after purchasing an additional 216 shares in the last quarter. Putney Financial Group LLC purchased a new position in shares of Stryker during the fourth quarter worth about $292,000. Aurdan Capital Management LLC purchased a new position in shares of Stryker during the fourth quarter worth about $312,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Stryker by 18.3% during the fourth quarter. Mackenzie Financial Corp now owns 1,416,994 shares of the medical technology company’s stock worth $510,189,000 after purchasing an additional 219,451 shares in 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.