Stryker Co. (NYSE:SYK) Given Average Recommendation of “Moderate Buy” by Brokerages

Stryker Co. (NYSE:SYK) has been assigned an average rating of “Moderate Buy” from the twenty research firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $405.80.

SYK has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Needham & Company LLC increased their price objective on shares of Stryker from $409.00 to $442.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Barclays lifted their target price on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Truist Financial increased their price target on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Finally, Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd.

Stryker Price Performance

SYK stock opened at $367.11 on Friday. The stock’s 50 day moving average is $375.37 and its two-hundred day moving average is $356.61. Stryker has a 52-week low of $292.43 and a 52-week high of $398.20. The company has a market capitalization of $139.95 billion, a PE ratio of 39.35, a P/E/G ratio of 2.82 and a beta of 0.94. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last announced its quarterly earnings data 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 return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the previous year, the company earned $2.46 earnings per share. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. Analysts predict that Stryker will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business 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 is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.92%. Stryker’s payout ratio is 36.01%.

Insider Buying and Selling

In other Stryker 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 transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SYK. Parnassus Investments LLC bought a new stake in shares of Stryker in the 3rd quarter valued at approximately $762,798,000. International Assets Investment Management LLC boosted its stake in shares of Stryker by 66,967.5% during the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after acquiring an additional 852,496 shares in the last quarter. RTW Investments LP acquired a new position in shares of Stryker during the 3rd quarter valued at about $143,392,000. American Century Companies Inc. raised its stake in shares of Stryker by 287.6% in the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after acquiring an additional 375,166 shares in the last quarter. Finally, State Street Corp lifted its holdings in Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares during the last quarter. 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.