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.
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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
Hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its holdings in Stryker by 0.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 8,786 shares of the medical technology company's stock valued at $2,148,000 after purchasing an additional 43 shares during the period. Wedbush Securities Inc. raised its stake in shares of Stryker by 0.6% in the 4th quarter. Wedbush Securities Inc. now owns 7,818 shares of the medical technology company's stock valued at $1,911,000 after buying an additional 44 shares in the last quarter. Carolinas Wealth Consulting LLC raised its stake in shares of Stryker by 3.0% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 1,533 shares of the medical technology company's stock valued at $411,000 after buying an additional 45 shares in the last quarter. Alera Investment Advisors LLC raised its stake in shares of Stryker by 1.4% in the 4th quarter. Alera Investment Advisors LLC now owns 3,276 shares of the medical technology company's stock valued at $801,000 after buying an additional 46 shares in the last quarter. Finally, Intelligence Driven Advisers LLC raised its stake in shares of Stryker by 1.7% in the 3rd quarter. Intelligence Driven Advisers LLC now owns 2,817 shares of the medical technology company's stock valued at $596,000 after buying an additional 47 shares in the last quarter. Institutional investors and hedge funds own 77.10% of the company's stock.
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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