Stryker (NYSE:SYK) Price Target Raised to $420.00

Stryker (NYSE:SYK) had its target price lifted by JPMorgan Chase & Co. from $375.00 to $420.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the medical technology company’s stock.

A number of other equities analysts have also recently commented on SYK. Truist Financial lifted their price target on Stryker from $345.00 to $370.00 and gave the stock a “hold” rating in a report on Monday, October 14th. Robert W. Baird lifted their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday. UBS Group increased their price target on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday. Morgan Stanley lifted their price objective on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Finally, Wells Fargo & Company increased their price objective on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Stock Up 3.1 %

NYSE:SYK opened at $367.15 on Wednesday. The firm has a market capitalization of $139.96 billion, a price-to-earnings ratio of 39.35, a price-to-earnings-growth ratio of 2.69 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker has a twelve month low of $266.93 and a twelve month high of $374.63. The stock’s 50 day moving average price is $360.18 and its two-hundred day moving average price is $344.26.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the company earned $2.46 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities research analysts expect that Stryker will post 12.06 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Monday, September 30th. Stryker’s payout ratio is currently 34.30%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $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 sold 200,068 shares of company stock valued at $65,151,372 over the last quarter. 5.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Stryker

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Stryker by 1.0% during the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after buying an additional 309,592 shares in the last quarter. JPMorgan Chase & Co. grew its position in Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after acquiring an additional 813,311 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Stryker by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after purchasing an additional 66,482 shares in the last quarter. TD Asset Management Inc raised its position in Stryker by 2.9% in the first quarter. TD Asset Management Inc now owns 1,601,380 shares of the medical technology company’s stock valued at $573,086,000 after purchasing an additional 44,765 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Stryker by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock worth $411,624,000 after purchasing an additional 46,375 shares during the last quarter. 77.09% of the stock is owned by 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.