Stryker (NYSE:SYK) Given New $409.00 Price Target at Needham & Company LLC

Stryker (NYSE:SYK) had its target price boosted by Needham & Company LLC from $393.00 to $409.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a buy rating on the medical technology company’s stock.

SYK has been the subject of a number of other research reports. Robert W. Baird upped their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday. BTIG Research upped their price target on Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Wolfe Research started coverage on shares of Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective for the company. Stifel Nicolaus lowered their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Barclays raised their target price on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $392.60.

Stryker Trading Up 1.2 %

Stryker stock opened at $363.48 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Stryker has a 12-month low of $264.85 and a 12-month high of $374.63. The firm has a market capitalization of $138.47 billion, a price-to-earnings ratio of 41.49, a P/E/G ratio of 2.73 and a beta of 0.91. The firm has a 50 day moving average of $359.79 and a 200 day moving average of $343.98.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.09. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the company posted $2.46 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, research analysts predict that Stryker will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio is presently 36.53%.

Insiders Place Their Bets

In other news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock worth $71,811,372 in the last ninety days. 5.90% of the stock is owned by company insiders.

Institutional Trading of Stryker

Several institutional investors and hedge funds have recently bought and sold shares of SYK. Centennial Bank AR increased its stake in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Stryker during the first quarter worth about $39,000. HBW Advisory Services LLC purchased a new stake in shares of Stryker in the third quarter valued at approximately $42,000. Grove Bank & Trust increased its stake in shares of Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 56 shares during the last quarter. Finally, DT Investment Partners LLC raised its stake in Stryker by 114.3% during the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after purchasing an additional 72 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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.