Stryker (NYSE:SYK) Stock Price Expected to Rise, Barclays Analyst Says

Stryker (NYSE:SYK) had its price objective raised by Barclays from $402.00 to $418.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the medical technology company’s stock.

Several other research firms also recently commented on SYK. JPMorgan Chase & Co. raised their price objective on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday. Wolfe Research assumed coverage on Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target for the company. Robert W. Baird boosted their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday. Canaccord Genuity Group raised their target price on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their price target on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Up 3.1 %

Shares of NYSE SYK opened at $367.15 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 0.95. The stock has a market capitalization of $139.96 billion, a PE ratio of 39.35, a P/E/G ratio of 2.69 and a beta of 0.91. Stryker has a one year low of $266.93 and a one year high of $374.63. The business’s fifty day moving average price is $360.18 and its 200-day moving average price is $344.31.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.46 EPS. On average, equities research analysts anticipate that Stryker will post 12.06 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a $0.80 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.87%. Stryker’s payout ratio is 34.30%.

Insider Transactions at Stryker

In other news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 200,068 shares of company stock worth $65,151,372. 5.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Centennial Bank AR boosted its position in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Stryker during the first quarter valued at approximately $39,000. Hara Capital LLC purchased a new stake in Stryker in the third quarter worth $42,000. HBW Advisory Services LLC bought a new position in Stryker in the third quarter worth $42,000. Finally, Grove Bank & Trust lifted its position in Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after buying an additional 56 shares during the period. 77.09% of the stock is owned by hedge funds and other 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.