JPMorgan Chase & Co. Issues Positive Forecast for Stryker (NYSE:SYK) Stock Price

Stryker (NYSE:SYK) had its price objective hoisted by JPMorgan Chase & Co. from $420.00 to $445.00 in a research note issued to investors on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical technology company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada restated an “outperform” rating and set a $425.00 target price on shares of Stryker in a research note on Tuesday, January 7th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. Canaccord Genuity Group increased their price objective on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus lifted their target price on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Robert W. Baird lifted their price target on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $413.45.

Stryker Stock Down 1.1 %

SYK opened at $390.98 on Wednesday. The stock has a market capitalization of $149.05 billion, a price-to-earnings ratio of 41.91, a PEG ratio of 2.68 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average price of $376.44 and a 200-day moving average price of $361.98. Stryker has a twelve month low of $314.05 and a twelve month high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 16.34% and a return on equity of 23.07%. During the same quarter last year, the company posted $3.46 earnings per share. Equities research analysts forecast that Stryker will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. Stryker’s dividend payout ratio (DPR) is currently 36.01%.

Insider Activity

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’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 transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dunhill Financial LLC boosted its holdings 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 valued at $27,000 after acquiring an additional 37 shares during the last quarter. Centennial Bank AR grew its position in shares of 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 during the period. Darwin Wealth Management LLC acquired a new stake in Stryker in the third quarter valued at approximately $36,000. Activest Wealth Management purchased a new stake in Stryker in the 4th quarter worth $36,000. Finally, Crews Bank & Trust purchased a new stake in shares of Stryker during the fourth quarter worth about $39,000. Hedge funds and other 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.