Stryker (NYSE:SYK) PT Lowered to $365.00 at Stifel Nicolaus

Stryker (NYSE:SYK) had its price objective reduced by Stifel Nicolaus from $375.00 to $365.00 in a report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the medical technology company’s stock.

Several other research analysts have also commented on the stock. StockNews.com raised shares of Stryker from a hold rating to a buy rating in a report on Thursday, July 11th. BTIG Research boosted their target price on shares of Stryker from $369.00 to $372.00 and gave the company a buy rating in a research note on Monday, July 15th. Morgan Stanley boosted their target price on shares of Stryker from $345.00 to $350.00 and gave the company an equal weight rating in a research note on Monday, July 15th. Citigroup boosted their target price on shares of Stryker from $362.00 to $406.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Finally, The Goldman Sachs Group assumed coverage on shares of Stryker in a research note on Thursday, May 30th. They set a neutral rating and a $372.00 target price for the company. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Stryker currently has a consensus rating of Moderate Buy and a consensus price target of $373.11.

Stryker Trading Down 0.5 %

NYSE SYK opened at $331.56 on Wednesday. Stryker has a one year low of $249.98 and a one year high of $361.41. The company has a 50-day simple moving average of $338.87 and a 200-day simple moving average of $339.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. The firm has a market capitalization of $126.31 billion, a PE ratio of 37.85, a price-to-earnings-growth ratio of 2.57 and a beta of 0.89.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 23.26%. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the business posted $2.54 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts forecast that Stryker will post 11.98 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were issued a $0.80 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.97%. Stryker’s payout ratio is currently 36.53%.

Insider Buying and Selling

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

A number of large investors have recently made changes to their positions in SYK. Burkett Financial Services LLC acquired a new stake in shares of Stryker during the fourth quarter valued at approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in shares of Stryker by 203.3% during 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 acquiring an additional 61 shares during the period. Rogco LP acquired a new stake in shares of Stryker during the fourth quarter valued at approximately $30,000. DSM Capital Partners LLC acquired a new stake in shares of Stryker during the fourth quarter valued at approximately $34,000. Finally, HBC Financial Services PLLC acquired a new stake in shares of Stryker during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds 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.