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

Stryker (NYSE:SYK) had its price target raised by Truist Financial from $380.00 to $409.00 in a research note released on Wednesday,Benzinga reports. They currently have a hold rating on the medical technology company’s stock.

Several other brokerages have also commented on SYK. Canaccord Genuity Group raised their price objective on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. BTIG Research upped their price target on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Needham & Company LLC increased their price objective on Stryker from $409.00 to $442.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Barclays upped their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $405.80.

Stryker Price Performance

Shares of SYK stock opened at $364.60 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker has a fifty-two week low of $288.90 and a fifty-two week high of $398.20. The firm has a market cap of $138.99 billion, a P/E ratio of 39.08, a P/E/G ratio of 2.82 and a beta of 0.94. The business’s 50 day moving average price is $374.66 and its 200-day moving average price is $355.78.

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

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.92%. Stryker’s dividend payout ratio (DPR) is presently 36.01%.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

A number of large investors have recently added to or reduced their stakes in SYK. Dunhill Financial LLC boosted its stake in shares of Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after buying an additional 37 shares during the last quarter. Centennial Bank AR lifted its holdings in Stryker by 106.7% in the second 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 during the period. Darwin Wealth Management LLC purchased a new position in Stryker in the third quarter worth about $36,000. HBW Advisory Services LLC bought a new stake in shares of Stryker during the 3rd quarter valued at about $42,000. Finally, Hara Capital LLC purchased a new stake in shares of Stryker during the 3rd quarter valued at about $42,000. 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.