Royal Bank of Canada Raises Stryker (NYSE:SYK) Price Target to $386.00

Stryker (NYSE:SYK) had its target price raised by Royal Bank of Canada from $360.00 to $386.00 in a report published on Monday, Benzinga reports. The firm currently has an outperform rating on the medical technology company’s stock.

Several other analysts also recently issued reports on the company. Canaccord Genuity Group upgraded Stryker from a hold rating to a buy rating and increased their price target for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Wells Fargo & Company upped their price objective on shares of Stryker from $336.00 to $364.00 and gave the company an overweight rating in a research report on Wednesday, January 31st. Roth Mkm upped their price objective on shares of Stryker from $345.00 to $348.00 and gave the company a buy rating in a research report on Wednesday, January 31st. TD Cowen upped their price objective on shares of Stryker from $365.00 to $400.00 and gave the company a buy rating in a research report on Thursday, April 11th. Finally, Evercore ISI upped their price objective on shares of Stryker from $340.00 to $370.00 and gave the company an outperform rating in a research report on Thursday, April 4th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $340.45.

Stryker Stock Down 0.5 %

Shares of NYSE SYK opened at $336.03 on Monday. Stryker has a 12-month low of $249.98 and a 12-month high of $361.41. The company has a market cap of $127.85 billion, a P/E ratio of 40.73, a P/E/G ratio of 2.73 and a beta of 0.89. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average price of $350.57 and a 200 day moving average price of $312.03.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. During the same period in the prior year, the firm earned $3.00 EPS. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. Research analysts anticipate that Stryker will post 11.86 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.95%. Stryker’s dividend payout ratio is currently 38.79%.

Insiders Place Their Bets

In other Stryker news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the transaction, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now owns 14,242 shares in the company, valued at $4,856,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock valued at $72,845,768 over the last quarter. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Stryker

Several large investors have recently made changes to their positions in the company. Faithward Advisors LLC increased its holdings in shares of Stryker by 3.1% during the 4th quarter. Faithward Advisors LLC now owns 973 shares of the medical technology company’s stock worth $291,000 after purchasing an additional 29 shares during the period. Harbor Investment Advisory LLC increased its holdings in shares of Stryker by 0.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after purchasing an additional 31 shares during the period. Bremer Bank National Association increased its holdings in shares of Stryker by 4.0% during the 4th quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock worth $266,000 after purchasing an additional 34 shares during the period. Simon Quick Advisors LLC increased its holdings in shares of Stryker by 3.0% during the 4th quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock worth $347,000 after purchasing an additional 34 shares during the period. Finally, Consolidated Portfolio Review Corp increased its holdings in shares of Stryker by 3.6% during the 4th quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock worth $294,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Company Profile

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.