Stryker Co. (NYSE:SYK – Get Rating)'s stock price reached a new 52-week high during trading on Thursday after Barclays raised their price target on the stock from $265.00 to $283.00. Barclays currently has an overweight rating on the stock. Stryker traded as high as $281.45 and last traded at $280.70, with a volume of 24622 shares traded. The stock had previously closed at $278.95.

A number of other research analysts have also recently commented on SYK. TheStreet upgraded Stryker from a "c+" rating to a "b" rating in a research note on Tuesday, November 22nd. Truist Financial upped their price objective on Stryker from $257.00 to $275.00 and gave the stock a "hold" rating in a research report on Wednesday. Royal Bank of Canada upped their price objective on Stryker from $284.00 to $288.00 and gave the stock an "outperform" rating in a research report on Wednesday. Cowen upped their price objective on Stryker from $233.00 to $283.00 in a research report on Wednesday, December 14th. Finally, Canaccord Genuity Group lowered Stryker from a "buy" rating to a "hold" rating and cut their price objective for the stock from $225.00 to $220.00 in a research report on Tuesday, November 1st. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Stryker has a consensus rating of "Moderate Buy" and a consensus target price of $271.32.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 67,232 shares of the firm's stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $239.68, for a total transaction of $16,114,165.76. Following the transaction, the chief executive officer now owns 80,770 shares of the company's stock, valued at $19,358,953.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Stryker news, VP M Kathryn Fink sold 6,571 shares of the firm's stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $257.69, for a total transaction of $1,693,280.99. Following the transaction, the vice president now owns 9,264 shares of the company's stock, valued at $2,387,240.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kevin Lobo sold 67,232 shares of the stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $239.68, for a total transaction of $16,114,165.76. Following the sale, the chief executive officer now owns 80,770 shares of the company's stock, valued at approximately $19,358,953.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,139 shares of company stock valued at $19,150,115. 6.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Stryker

Stryker Trading Up 1.3 %

The company has a market cap of $106.90 billion, a price-to-earnings ratio of 45.35, a PEG ratio of 2.83 and a beta of 0.93. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.19 and a current ratio of 2.04. The business's 50 day moving average price is $247.78 and its 200-day moving average price is $226.11.

Stryker (NYSE:SYK – Get Rating) last announced its earnings results on Tuesday, January 31st. The medical technology company reported $3.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.84 by $0.16. The business had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $4.97 billion. Stryker had a net margin of 12.78% and a return on equity of 22.70%. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $2.71 EPS. On average, research analysts forecast that Stryker Co. will post 9.83 EPS for the current year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 31st. Investors of record on Friday, December 30th were given a dividend of $0.75 per share. The ex-dividend date was Thursday, December 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.06%. This is a boost from Stryker's previous quarterly dividend of $0.70. Stryker's dividend payout ratio (DPR) is 48.62%.

About Stryker

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Stryker Corp. operates as a medical technology company. It operates through the following segments: Orthopaedics & Spine and MedSurg & Neurotechnology. The Orthopaedics & Spine segment provides implants for use in total joint replacements, such as hip, knee, and shoulder, and trauma and extremities surgeries.

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