Stryker Co. (NYSE:SYK) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Stryker Co. (NYSE:SYK) have received an average rating of “Moderate Buy” from the twenty-one brokerages that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $413.45.

SYK has been the subject of a number of recent analyst reports. Evercore ISI boosted their price target on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Wells Fargo & Company raised their target price on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research report on Wednesday.

Stryker Stock Performance

NYSE:SYK opened at $390.98 on Thursday. The business’s fifty day moving average is $376.44 and its 200 day moving average is $361.98. The firm has a market cap of $149.05 billion, a price-to-earnings ratio of 41.91, a PEG ratio of 2.68 and a beta of 0.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker has a 52-week low of $314.05 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.07% and a net margin of 16.34%. During the same quarter in the previous year, the firm earned $3.46 EPS. Research analysts predict that Stryker will post 12.06 EPS for the current year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is 36.01%.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.50% 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. State Street Corp lifted its stake in Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after acquiring an additional 316,404 shares during the period. FMR LLC lifted its position in shares of Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares during the period. Geode Capital Management LLC boosted its stake in shares of Stryker by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after purchasing an additional 165,490 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after buying an additional 66,482 shares during the period. Finally, Parnassus Investments LLC bought a new position in Stryker in the third quarter worth about $762,798,000. 77.09% of the stock is currently owned by institutional investors.

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.