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

Shares of Stryker Co. (NYSE:SYK) have been assigned a consensus rating of “Moderate Buy” from the twenty-one research firms that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $405.80.

A number of equities analysts have commented on SYK shares. Piper Sandler reissued an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Evercore ISI raised their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. UBS Group upped their target price on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird increased their price objective on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th.

Insiders Place Their Bets

In other news, CEO Kevin Lobo sold 57,313 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.50% of the stock is currently owned by company insiders.

Institutional Trading of Stryker

A number of hedge funds and other institutional investors have recently made changes to their positions in SYK. Dunhill Financial LLC lifted its stake in Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the last quarter. Centennial Bank AR boosted its stake in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new position in Stryker during the 3rd quarter worth $36,000. Hara Capital LLC acquired a new position in Stryker in the third quarter valued at $42,000. Finally, HBW Advisory Services LLC purchased a new stake in shares of Stryker in the third quarter valued at about $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

Shares of Stryker stock opened at $390.31 on Thursday. The firm has a market cap of $148.79 billion, a PE ratio of 41.83, a P/E/G ratio of 2.63 and a beta of 0.95. The business has a 50-day moving average price of $375.78 and a 200 day moving average price of $359.94. 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 has a twelve month low of $307.23 and a twelve month high of $398.20.

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

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.84 dividend. This is a boost 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 annualized dividend and a yield of 0.86%. Stryker’s dividend payout ratio (DPR) is 36.01%.

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.