Stryker (NYSE:SYK) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Stryker (NYSE:SYK) had its price objective raised by Robert W. Baird from $378.00 to $405.00 in a report published on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the medical technology company’s stock.

SYK has been the topic of several other reports. Piper Sandler reissued an “overweight” rating and issued a $380.00 price target on shares of Stryker in a research note on Tuesday, September 10th. BTIG Research upped their price target on Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Stifel Nicolaus reduced their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Morgan Stanley upped their price objective on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, Barclays upped their price objective on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Four 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Stock Up 3.1 %

SYK opened at $367.15 on Wednesday. Stryker has a fifty-two week low of $266.93 and a fifty-two week high of $374.63. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 1.91. The company has a market capitalization of $139.96 billion, a P/E ratio of 39.35, a P/E/G ratio of 2.69 and a beta of 0.91. The stock has a fifty day moving average of $360.18 and a 200-day moving average of $344.31.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.46 earnings per share. On average, equities analysts expect that Stryker will post 12.06 EPS for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a $0.80 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. Stryker’s payout ratio is 34.30%.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 200,068 shares of company stock worth $65,151,372 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Centennial Bank AR lifted its holdings in shares of 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 buying an additional 48 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Stryker during the 1st quarter worth approximately $39,000. HBW Advisory Services LLC purchased a new stake in Stryker during the 3rd quarter worth approximately $42,000. Hara Capital LLC purchased a new stake in Stryker during the 3rd quarter worth approximately $42,000. Finally, Grove Bank & Trust grew its position in shares of Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

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.