Stryker (NYSE:SYK) Price Target Raised to $427.00

Stryker (NYSE:SYK) had its target price hoisted by Wells Fargo & Company from $405.00 to $427.00 in a report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the medical technology company’s stock.

A number of other research analysts have also recently commented on the company. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Royal Bank of Canada increased their price objective on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. UBS Group increased their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Evercore ISI increased their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $404.35.

Stryker Stock Down 0.1 %

NYSE:SYK opened at $374.75 on Wednesday. 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 stock’s fifty day moving average is $372.88 and its two-hundred day moving average is $354.65. Stryker has a 52 week low of $285.79 and a 52 week high of $398.20. The stock has a market capitalization of $142.86 billion, a price-to-earnings ratio of 40.19, a price-to-earnings-growth ratio of 2.84 and a beta of 0.94.

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

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.90%. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is 34.30%.

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker 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 sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $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 accessible through this link. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the sale, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

Institutional investors have recently added to or reduced their stakes in the stock. Dunhill Financial LLC increased its position in 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 period. Centennial Bank AR increased its position in Stryker by 106.7% in 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 position in Stryker in the 3rd quarter valued at about $36,000. Hara Capital LLC purchased a new stake in Stryker in the 3rd quarter valued at approximately $42,000. Finally, HBW Advisory Services LLC purchased a new stake in Stryker in the 3rd quarter valued at approximately $42,000. Institutional investors and hedge funds 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.