Stryker (NYSE:SYK) Price Target Raised to $405.00

Stryker (NYSE:SYK) had its price target boosted by Roth Mkm from $348.00 to $405.00 in a research note released on Wednesday, Benzinga reports. Roth Mkm currently has a buy rating on the medical technology company’s stock.

Other research analysts also recently issued reports about the company. BTIG Research increased their price objective on Stryker from $366.00 to $369.00 and gave the stock a buy rating in a report on Wednesday. Stifel Nicolaus increased their price objective on Stryker from $350.00 to $375.00 and gave the stock a buy rating in a report on Wednesday. Citigroup increased their price objective on Stryker from $362.00 to $406.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Royal Bank of Canada raised their price target on Stryker from $360.00 to $386.00 and gave the company an outperform rating in a research note on Monday, April 15th. Finally, Robert W. Baird raised their price target on Stryker from $367.00 to $378.00 and gave the company an outperform rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $365.94.

Stryker Trading Up 0.6 %

NYSE SYK opened at $328.45 on Wednesday. The firm has a market cap of $125.12 billion, a P/E ratio of 37.49, a P/E/G ratio of 2.56 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.97. The stock’s 50-day moving average is $346.99 and its 200-day moving average is $317.29. Stryker has a one year low of $249.98 and a one year high of $361.41.

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

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were issued a dividend of $0.80 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.97%. Stryker’s payout ratio is currently 36.53%.

Insider Buying and Selling

In related news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker 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 completion of the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction 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 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. 5.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Stryker

Hedge funds and other institutional investors have recently bought and sold shares of the company. Burkett Financial Services LLC bought a new stake in Stryker during the 4th quarter worth $25,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position in Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 61 shares during the last quarter. Rogco LP bought a new stake in Stryker during the 4th quarter worth $30,000. Central Pacific Bank Trust Division bought a new stake in Stryker during the 1st quarter worth $39,000. Finally, DSM Capital Partners LLC bought a new stake in Stryker during the 4th quarter worth $34,000. Institutional investors own 77.09% of the company’s stock.

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.