Stryker (NYSE:SYK) Price Target Raised to $351.00 at UBS Group

Stryker (NYSE:SYK) had its price objective upped by UBS Group from $339.00 to $351.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the medical technology company’s stock.

Several other analysts have also issued reports on the stock. Canaccord Genuity Group upgraded shares of Stryker from a hold rating to a buy rating and set a $360.00 target price on the stock in a research report on Wednesday, January 31st. Needham & Company LLC reiterated a hold rating on shares of Stryker in a report on Wednesday. Canaccord Genuity Group raised Stryker from a hold rating to a buy rating and increased their target price for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Stifel Nicolaus lifted their price target on Stryker from $350.00 to $375.00 and gave the stock a buy rating in a research note on Wednesday. Finally, Piper Sandler boosted their price target on Stryker from $375.00 to $380.00 and gave the stock an overweight rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $357.05.

Stryker Stock Performance

NYSE SYK opened at $328.14 on Wednesday. The stock has a market capitalization of $124.85 billion, a price-to-earnings ratio of 37.46, a PEG ratio of 2.71 and a beta of 0.91. The stock has a 50-day moving average of $348.05 and a 200 day moving average of $316.78. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. Stryker has a twelve month low of $249.98 and a twelve month high of $361.41.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.44% and a net margin of 16.03%. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the prior year, the company posted $2.14 EPS. The business’s quarterly revenue was up 9.7% on a year-over-year basis. Sell-side analysts anticipate that Stryker will post 11.86 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.98%. Stryker’s dividend payout ratio is currently 36.53%.

Insider Activity

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was 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 $1,317,414. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the transaction, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 212,109 shares of company stock valued at $72,845,768. 5.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Brookstone Capital Management increased its stake in Stryker by 6.9% during the third quarter. Brookstone Capital Management now owns 8,022 shares of the medical technology company’s stock worth $2,153,000 after purchasing an additional 521 shares during the period. Accurate Wealth Management LLC increased its stake in Stryker by 10.4% during the 3rd quarter. Accurate Wealth Management LLC now owns 815 shares of the medical technology company’s stock worth $218,000 after buying an additional 77 shares during the period. Kingswood Wealth Advisors LLC lifted its holdings in Stryker by 28.4% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 904 shares of the medical technology company’s stock worth $247,000 after buying an additional 200 shares in the last quarter. Tectonic Advisors LLC boosted its position in Stryker by 5.0% in the 3rd quarter. Tectonic Advisors LLC now owns 2,153 shares of the medical technology company’s stock valued at $588,000 after buying an additional 102 shares during the period. Finally, Raymond James & Associates grew its stake in shares of Stryker by 1.6% in the third quarter. Raymond James & Associates now owns 563,217 shares of the medical technology company’s stock worth $153,910,000 after acquiring an additional 9,005 shares in the last quarter. 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.