Stryker (NYSE:SYK) Price Target Raised to $376.00 at Barclays

Stryker (NYSE:SYK) had its price objective upped by Barclays from $372.00 to $376.00 in a report issued on Thursday morning, Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.

Several other equities analysts have also recently commented on SYK. Needham & Company LLC reissued a hold rating on shares of Stryker in a research report on Wednesday. Canaccord Genuity Group upgraded Stryker from a hold rating to a buy rating and boosted their price objective for the company from $315.00 to $360.00 in a research note on Wednesday, January 31st. Stifel Nicolaus increased their target price on shares of Stryker from $350.00 to $375.00 and gave the stock a buy rating in a research report on Wednesday. Robert W. Baird boosted their price target on shares of Stryker from $367.00 to $378.00 and gave the company an outperform rating in a research report on Wednesday. Finally, UBS Group raised their price objective on shares of Stryker from $339.00 to $351.00 and gave the stock a neutral rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Stryker presently has a consensus rating of Moderate Buy and a consensus target price of $365.94.

Stryker Stock Up 0.6 %

SYK stock traded up $1.82 during mid-day trading on Thursday, reaching $328.45. 1,589,424 shares of the company traded hands, compared to its average volume of 1,415,127. The stock has a market cap of $125.12 billion, a price-to-earnings ratio of 37.49, a P/E/G ratio of 2.55 and a beta of 0.91. The company has a quick ratio of 0.97, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. Stryker has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The firm’s 50 day moving average price is $347.52 and its 200 day moving average price is $316.85.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter last year, the firm earned $2.14 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts predict that Stryker will post 11.94 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Activity

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s 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 transaction, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

Several institutional investors and hedge funds have recently bought and sold shares of SYK. Norges Bank bought a new position in Stryker during the 4th quarter worth approximately $1,260,562,000. Global Assets Advisory LLC purchased a new stake in Stryker in the 1st quarter worth approximately $341,049,000. Magellan Asset Management Ltd lifted its holdings in Stryker by 74,911.8% in the 3rd quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock worth $185,921,000 after buying an additional 679,450 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Stryker by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after purchasing an additional 642,178 shares during the period. Finally, Barclays PLC lifted its stake in shares of Stryker by 103.5% in 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 during the period. 77.09% of the stock is currently 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.