Stryker Co. (NYSE:SYK) Receives $370.32 Average Target Price from Analysts

Shares of Stryker Co. (NYSE:SYK) have earned a consensus rating of “Moderate Buy” from the nineteen analysts that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $370.32.

Several research analysts have recently issued reports on SYK shares. Roth Mkm increased their price target on Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Piper Sandler increased their price target on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group initiated coverage on Stryker in a report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective for the company. Citigroup upped their price objective on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Robert W. Baird upped their price objective on Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st.

Institutional Investors Weigh In On Stryker

Hedge funds have recently bought and sold shares of the business. Carnegie Capital Asset Management LLC lifted its stake in Stryker by 0.5% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock worth $28,820,000 after acquiring an additional 497 shares in the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new stake in Stryker in the 4th quarter worth about $1,561,000. CoreCap Advisors LLC increased its position in Stryker by 3.9% in the 4th quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock worth $1,506,000 after purchasing an additional 191 shares during the last quarter. Consolidated Planning Corp acquired a new position in Stryker in the 4th quarter worth about $205,000. Finally, Meritage Portfolio Management acquired a new position in Stryker in the 4th quarter worth about $569,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of SYK opened at $338.09 on Friday. The company has a market cap of $128.80 billion, a P/E ratio of 38.59, a PEG ratio of 2.63 and a beta of 0.89. The stock has a fifty day moving average price of $337.68 and a 200 day moving average price of $335.97. 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 has a 12 month low of $249.98 and a 12 month high of $361.41.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter in the prior year, the business posted $2.14 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, research analysts forecast that Stryker will post 11.95 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.95%. The ex-dividend date is Friday, June 28th. Stryker’s dividend payout ratio is currently 36.53%.

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.