Stryker (NYSE:SYK) Given New $435.00 Price Target at Royal Bank of Canada

Stryker (NYSE:SYK) had its price objective increased by Royal Bank of Canada from $425.00 to $435.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the medical technology company’s stock.

Several other research analysts also recently issued reports on the company. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Canaccord Genuity Group upped their target price on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Stifel Nicolaus lifted their price target on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $419.37.

Stryker Stock Performance

Shares of SYK stock opened at $390.90 on Wednesday. The stock has a fifty day moving average price of $376.56 and a 200 day moving average price of $362.38. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The stock has a market cap of $149.02 billion, a PE ratio of 50.37, a P/E/G ratio of 2.68 and a beta of 0.95. Stryker has a 1 year low of $314.93 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.86%. During the same period last year, the firm posted $3.46 EPS. Sell-side analysts forecast that Stryker will post 13.53 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was 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 $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stryker

Several hedge funds have recently modified their holdings of the stock. Opal Wealth Advisors LLC grew its position in Stryker by 1.6% in the fourth quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company’s stock valued at $654,000 after acquiring an additional 28 shares in the last quarter. Capital Planning LLC boosted its stake in shares of Stryker by 3.6% in the fourth quarter. Capital Planning LLC now owns 841 shares of the medical technology company’s stock valued at $304,000 after purchasing an additional 29 shares during the period. Alhambra Investment Management LLC increased its stake in Stryker by 1.5% during the 4th quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock worth $719,000 after buying an additional 29 shares during the period. JFS Wealth Advisors LLC lifted its holdings in Stryker by 4.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 687 shares of the medical technology company’s stock worth $247,000 after buying an additional 29 shares in the last quarter. Finally, Concord Wealth Partners boosted its position in Stryker by 2.2% in the 4th quarter. Concord Wealth Partners now owns 1,396 shares of the medical technology company’s stock valued at $503,000 after buying an additional 30 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

About Stryker

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.