Stryker (NYSE:SYK) Price Target Raised to $411.00 at Citigroup

Stryker (NYSE:SYK) had its target price hoisted by Citigroup from $406.00 to $411.00 in a research report report published on Thursday, Benzinga reports. Citigroup currently has a buy rating on the medical technology company’s stock.

SYK has been the subject of several other research reports. Truist Financial boosted their price target on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday. Canaccord Genuity Group boosted their target price on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays increased their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday. Royal Bank of Canada boosted their price objective on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Stifel Nicolaus reduced their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Trading Up 2.2 %

NYSE:SYK traded up $7.83 during trading hours on Thursday, reaching $364.11. 252,976 shares of the stock were exchanged, compared to its average volume of 1,251,443. Stryker has a twelve month low of $266.93 and a twelve month high of $374.63. The company has a quick ratio of 0.95, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average of $359.90 and a two-hundred day moving average of $344.06. The company has a market capitalization of $138.75 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 2.79 and a beta of 0.91.

Stryker (NYSE:SYK) last released its earnings results 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 company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the company posted $2.46 EPS. Stryker’s revenue was up 11.9% compared to the same quarter last year. On average, equities analysts predict that Stryker will post 12.05 EPS for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Monday, September 30th. Stryker’s dividend payout ratio is currently 34.30%.

Insider Transactions at Stryker

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

Institutional Investors Weigh In On Stryker

Institutional investors have recently made changes to their positions in the stock. Centennial Bank AR boosted its stake in shares of 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 acquiring an additional 48 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Stryker during the 1st quarter worth $39,000. Hara Capital LLC purchased a new stake in shares of Stryker in the 3rd quarter worth about $42,000. HBW Advisory Services LLC acquired a new stake in Stryker in the 3rd quarter valued at about $42,000. Finally, Grove Bank & Trust increased its holdings in Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 56 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

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.