Stryker Co. (NYSE:SYK – Get Rating) – Analysts at Jefferies Financial Group issued their Q1 2023 earnings per share (EPS) estimates for shares of Stryker in a research note issued on Wednesday, February 1st. Jefferies Financial Group analyst M. Taylor expects that the medical technology company will post earnings of $2.11 per share for the quarter. Jefferies Financial Group has a "Buy" rating and a $270.00 price objective on the stock. The consensus estimate for Stryker's current full-year earnings is $9.83 per share. Jefferies Financial Group also issued estimates for Stryker's Q2 2023 earnings at $2.48 EPS, Q3 2023 earnings at $2.37 EPS and Q4 2023 earnings at $3.20 EPS.
Get Stryker alerts:SYK has been the topic of several other research reports. Robert W. Baird boosted their price target on Stryker from $240.00 to $287.00 and gave the stock an "outperform" rating in a research note on Wednesday. Canaccord Genuity Group lowered Stryker from a "buy" rating to a "hold" rating and reduced their price target for the stock from $225.00 to $220.00 in a research note on Tuesday, November 1st. BTIG Research upped their price objective on Stryker from $268.00 to $281.00 and gave the stock a "buy" rating in a report on Wednesday. Piper Sandler increased their price target on Stryker from $250.00 to $280.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Royal Bank of Canada increased their price target on Stryker from $284.00 to $288.00 and gave the company an "outperform" rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and an average target price of $271.32.
Stryker Stock Performance
NYSE SYK opened at $282.48 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.19 and a debt-to-equity ratio of 0.77. The business's 50 day moving average is $247.78 and its two-hundred day moving average is $226.11. Stryker has a 12-month low of $188.84 and a 12-month high of $282.56. The stock has a market capitalization of $106.90 billion, a price-to-earnings ratio of 45.35, a PEG ratio of 2.83 and a beta of 0.93.Stryker (NYSE:SYK – Get Rating) last issued its quarterly earnings results on Tuesday, January 31st. The medical technology company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.16. The firm had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $4.97 billion. Stryker had a return on equity of 22.70% and a net margin of 12.78%. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.71 EPS.
Stryker Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 31st. Investors of record on Friday, December 30th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.06%. This is an increase from Stryker's previous quarterly dividend of $0.70. The ex-dividend date was Thursday, December 29th. Stryker's payout ratio is 48.62%.
Insider Buying and Selling
In other news, Director Srikant M. Datar sold 300 shares of the stock in a transaction on Monday, November 7th. The shares were sold at an average price of $212.36, for a total transaction of $63,708.00. Following the completion of the sale, the director now owns 4,861 shares of the company's stock, valued at $1,032,281.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Kevin Lobo sold 67,232 shares of the firm's stock in a transaction dated Friday, December 2nd. The shares were 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 directly owns 80,770 shares of the company's stock, valued at $19,358,953.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Srikant M. Datar sold 300 shares of the firm's stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $212.36, for a total transaction of $63,708.00. Following the transaction, the director now directly owns 4,861 shares in the company, valued at $1,032,281.96. The disclosure for this sale can be found here. Insiders sold a total of 79,139 shares of company stock valued at $19,150,115 over the last ninety days. Insiders own 6.70% of the company's stock.
Hedge Funds Weigh In On Stryker
Hedge funds have recently bought and sold shares of the company. Cottage Street Advisors LLC increased its stake in Stryker by 20,232.4% during the 4th quarter. Cottage Street Advisors LLC now owns 2,283,735 shares of the medical technology company's stock valued at $462,000 after purchasing an additional 2,272,503 shares in the last quarter. Ontario Teachers Pension Plan Board grew its stake in Stryker by 87,902.2% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 2,077,732 shares of the medical technology company's stock valued at $555,482,000 after buying an additional 2,075,371 shares in the last quarter. Clearbridge Investments LLC grew its stake in Stryker by 664.0% in the 2nd quarter. Clearbridge Investments LLC now owns 2,199,253 shares of the medical technology company's stock valued at $437,497,000 after buying an additional 1,911,376 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new position in shares of Stryker during the 3rd quarter valued at $241,841,000. Finally, TD Asset Management Inc. lifted its holdings in shares of Stryker by 76.6% during the 2nd quarter. TD Asset Management Inc. now owns 1,364,821 shares of the medical technology company's stock worth $271,504,000 after acquiring an additional 592,179 shares during the last quarter. 77.10% of the stock is owned by institutional investors.
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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