Stryker (NYSE:SYK) Upgraded at Needham & Company LLC

Needham & Company LLC upgraded shares of Stryker (NYSE:SYK) from a hold rating to a buy rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports. Needham & Company LLC currently has $392.00 price target on the medical technology company’s stock.

SYK has been the topic of a number of other reports. Canaccord Genuity Group upgraded shares of Stryker from a hold rating to a buy rating and set a $360.00 price target on the stock in a report on Wednesday, January 31st. BTIG Research boosted their target price on shares of Stryker from $366.00 to $369.00 and gave the stock a buy rating in a report on Wednesday, May 1st. Wells Fargo & Company boosted their target price on shares of Stryker from $364.00 to $381.00 and gave the stock an overweight rating in a report on Wednesday, May 1st. Canaccord Genuity Group upgraded shares of Stryker from a hold rating to a buy rating and boosted their target price for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. Finally, Stifel Nicolaus boosted their target price on shares of Stryker from $350.00 to $375.00 and gave the stock a buy rating in a report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $367.32.

Stryker Trading Up 1.6 %

Shares of Stryker stock opened at $335.54 on Wednesday. The company’s fifty day simple moving average is $339.85 and its 200-day simple moving average is $323.83. The stock has a market capitalization of $127.82 billion, a PE ratio of 38.30, a P/E/G ratio of 2.60 and a beta of 0.91. Stryker has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $2.14 EPS. As a group, equities analysts anticipate that Stryker will post 11.95 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a $0.80 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.20 annualized dividend and a dividend yield of 0.95%. Stryker’s dividend payout ratio (DPR) is 36.53%.

Insider Activity

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were 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 of the company’s stock, valued at $1,317,414. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

A number of institutional investors have recently bought and sold shares of SYK. Burkett Financial Services LLC purchased a new stake in shares of Stryker in the 4th quarter valued at approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 61 shares in the last quarter. Rogco LP acquired a new position in shares of Stryker in the fourth quarter valued at approximately $30,000. DSM Capital Partners LLC acquired a new position in shares of Stryker in the fourth quarter valued at approximately $34,000. Finally, HBC Financial Services PLLC acquired a new position in shares of Stryker in the fourth quarter valued at approximately $37,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

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.