Stryker (NYSE:SYK – Get Rating) had its target price increased by Canaccord Genuity Group from $220.00 to $250.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the medical technology company's stock.
SYK has been the topic of a number of other reports. BTIG Research boosted their target price on shares of Stryker from $232.00 to $268.00 in a research note on Wednesday, December 21st. Robert W. Baird boosted their target price on shares of Stryker from $240.00 to $287.00 and gave the company an outperform rating in a research note on Wednesday. Piper Sandler boosted their target price on shares of Stryker from $250.00 to $280.00 and gave the company an overweight rating in a research note on Wednesday. KeyCorp initiated coverage on shares of Stryker in a research note on Wednesday, January 25th. They issued a sector weight rating on the stock. Finally, Morgan Stanley boosted their price target on shares of Stryker from $220.00 to $260.00 and gave the company an equal weight rating in a research report on Friday, January 6th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Stryker currently has a consensus rating of Moderate Buy and a consensus target price of $270.37.
Get Stryker alerts:Stryker Stock Up 9.9 %
Stryker stock opened at $278.95 on Wednesday. Stryker has a fifty-two week low of $188.84 and a fifty-two week high of $280.46. The stock has a market cap of $105.56 billion, a PE ratio of 45.21, a price-to-earnings-growth ratio of 2.83 and a beta of 0.93. The firm's 50-day simple moving average is $246.81 and its 200 day simple moving average is $225.74. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.19 and a current ratio of 2.04.
Stryker (NYSE:SYK – Get Rating) last released its quarterly earnings results on Tuesday, January 31st. The medical technology company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.16. Stryker had a net margin of 12.78% and a return on equity of 22.70%. The business had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $4.97 billion. During the same period in the previous year, the company earned $2.71 earnings per share. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. Research analysts predict that Stryker will post 9.83 EPS for the current fiscal year.Stryker Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 31st. Shareholders of record on Friday, December 30th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Thursday, December 29th. This is a boost from Stryker's previous quarterly dividend of $0.70. Stryker's payout ratio is currently 48.62%.
Insider Activity
In other news, Director Srikant M. Datar sold 300 shares of the company's stock in a transaction on Monday, November 7th. The shares were sold at an average price of $212.36, for a total value of $63,708.00. Following the completion of the sale, the director now owns 4,861 shares of the company's stock, valued at approximately $1,032,281.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Srikant M. Datar sold 300 shares of the company's stock in a transaction on Monday, November 7th. The shares were sold at an average price of $212.36, for a total value of $63,708.00. Following the completion of the sale, the director now owns 4,861 shares of the company's stock, valued at approximately $1,032,281.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Srikant M. Datar sold 500 shares of the company's stock in a transaction on Monday, December 5th. The shares were sold at an average price of $238.70, for a total transaction of $119,350.00. Following the completion of the sale, the director now directly owns 7,262 shares of the company's stock, valued at approximately $1,733,439.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,139 shares of company stock valued at $19,150,115. Corporate insiders own 6.70% of the company's stock.
Institutional Investors Weigh In On Stryker
A number of institutional investors have recently made changes to their positions in SYK. MADDEN SECURITIES Corp purchased a new stake in Stryker during the 4th quarter valued at $29,000. Arcus Capital Partners LLC purchased a new stake in Stryker during the 4th quarter valued at $30,000. Align Wealth Management LLC purchased a new stake in Stryker during the 4th quarter valued at $25,000. Concord Wealth Partners purchased a new stake in Stryker during the 4th quarter valued at $47,000. Finally, Hazlett Burt & Watson Inc. purchased a new stake in Stryker during the 3rd quarter valued at $41,000. Hedge funds and other institutional investors own 77.10% of the company's stock.
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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