Stryker (SYK) – Analysts’ Weekly Ratings Changes

Several analysts have recently updated their ratings and price targets for Stryker (NYSE: SYK):

• 4/15/2024 – Stryker had its price target raised by analysts at Royal Bank of Canada from $360.00 to $386.00. They now have an “outperform” rating on the stock.
• 4/11/2024 – Stryker had its price target raised by analysts at TD Cowen from $365.00 to $400.00. They now have a “buy” rating on the stock.
• 4/4/2024 – Stryker had its price target raised by analysts at Evercore ISI from $340.00 to $370.00. They now have an “outperform” rating on the stock.
• 4/3/2024 – Stryker had its price target raised by analysts at Citigroup Inc. from $362.00 to $406.00. They now have a “buy” rating on the stock.

Stryker Stock Up 0.6 %

Shares of SYK stock traded up $2.09 during trading hours on Wednesday, reaching $337.00. The company had a trading volume of 959,896 shares, compared to its average volume of 1,275,194. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. The business has a fifty day simple moving average of $349.64 and a 200-day simple moving average of $314.08. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The company has a market cap of $128.22 billion, a price-to-earnings ratio of 40.85, a price-to-earnings-growth ratio of 2.64 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.19. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.00 EPS. On average, research analysts expect that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

Insider Activity at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock worth $72,845,768 in the last three months. 5.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Stryker

Institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Stryker in the 4th quarter worth about $1,260,562,000. Global Assets Advisory LLC purchased a new stake in shares of Stryker in the first quarter valued at approximately $341,049,000. Magellan Asset Management Ltd grew its stake in Stryker by 74,911.8% in the third quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock worth $185,921,000 after purchasing an additional 679,450 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Stryker by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after purchasing an additional 642,178 shares during the period. Finally, Barclays PLC raised its position in Stryker by 103.5% during the 3rd quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock valued at $296,493,000 after purchasing an additional 551,798 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

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.