Wells Fargo & Company Raises Stryker (NYSE:SYK) Price Target to $381.00

Stryker (NYSE:SYK) had its price objective lifted by Wells Fargo & Company from $364.00 to $381.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.

Other analysts have also recently issued reports about the company. Piper Sandler boosted their price objective on Stryker from $375.00 to $380.00 and gave the company an overweight rating in a research report on Wednesday. Roth Mkm increased their price objective on shares of Stryker from $348.00 to $405.00 and gave the company a buy rating in a research note on Wednesday. TD Cowen raised their price objective on shares of Stryker from $365.00 to $400.00 and gave the stock a buy rating in a report on Thursday, April 11th. UBS Group upped their target price on shares of Stryker from $339.00 to $351.00 and gave the company a neutral rating in a research note on Wednesday. Finally, Canaccord Genuity Group upgraded shares of Stryker from a hold rating to a buy rating and set a $360.00 price target for the company in a research note on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $357.05.

Stryker Stock Performance

NYSE SYK opened at $328.14 on Wednesday. The company’s fifty day moving average is $348.05 and its two-hundred day moving average is $316.78. Stryker has a 52-week low of $249.98 and a 52-week high of $361.41. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. The firm has a market capitalization of $124.85 billion, a price-to-earnings ratio of 37.46, a P/E/G ratio of 2.71 and a beta of 0.91.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.44%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $2.14 earnings per share. Equities research analysts forecast that Stryker will post 11.86 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were issued a $0.80 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.98%. Stryker’s dividend payout ratio is 36.53%.

Insiders Place Their Bets

In other Stryker news, Director Allan C. Golston sold 3,273 shares of the business’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 completion of the transaction, the director now directly owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Allan C. Golston sold 3,273 shares of the business’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 completion of the transaction, the director now owns 14,242 shares in the company, valued at approximately $4,856,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now directly 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 a total of 212,109 shares of company stock valued at $72,845,768 in the last 90 days. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Stryker

Hedge funds have recently added to or reduced their stakes in the company. Brookstone Capital Management boosted its stake in shares of Stryker by 6.9% in the 3rd quarter. Brookstone Capital Management now owns 8,022 shares of the medical technology company’s stock valued at $2,153,000 after purchasing an additional 521 shares during the last quarter. Accurate Wealth Management LLC lifted its holdings in Stryker by 10.4% in the third quarter. Accurate Wealth Management LLC now owns 815 shares of the medical technology company’s stock valued at $218,000 after buying an additional 77 shares during the period. Kingswood Wealth Advisors LLC boosted its stake in Stryker by 28.4% in the third quarter. Kingswood Wealth Advisors LLC now owns 904 shares of the medical technology company’s stock valued at $247,000 after acquiring an additional 200 shares during the last quarter. Tectonic Advisors LLC grew its holdings in Stryker by 5.0% during the 3rd quarter. Tectonic Advisors LLC now owns 2,153 shares of the medical technology company’s stock worth $588,000 after acquiring an additional 102 shares during the period. Finally, Raymond James & Associates raised its position in shares of Stryker by 1.6% during the 3rd quarter. Raymond James & Associates now owns 563,217 shares of the medical technology company’s stock valued at $153,910,000 after acquiring an additional 9,005 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

About Stryker

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.