Stryker Co. (NYSE:SYK) Receives $405.80 Consensus Price Target from Brokerages

Shares of Stryker Co. (NYSE:SYK) have been given a consensus rating of “Moderate Buy” by the twenty research firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $405.80.

SYK has been the topic of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $425.00 price target (up previously from $400.00) on shares of Stryker in a report on Wednesday, December 11th. Wolfe Research initiated coverage on Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price for the company. Truist Financial lifted their price target on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Piper Sandler reissued an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, Evercore ISI raised their target price on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th.

Insider Activity

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Institutional investors have recently added to or reduced their stakes in the business. Old Port Advisors raised its holdings in shares of Stryker by 6.6% during the fourth quarter. Old Port Advisors now owns 996 shares of the medical technology company’s stock valued at $359,000 after purchasing an additional 62 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Stryker by 6.2% in the 3rd quarter. Principal Financial Group Inc. now owns 398,422 shares of the medical technology company’s stock worth $143,934,000 after purchasing an additional 23,329 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of Stryker by 0.9% in the third quarter. Retirement Systems of Alabama now owns 75,427 shares of the medical technology company’s stock worth $27,249,000 after buying an additional 637 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in Stryker during the third quarter valued at approximately $8,907,000. Finally, Synovus Financial Corp increased its holdings in Stryker by 17.4% during the third quarter. Synovus Financial Corp now owns 14,797 shares of the medical technology company’s stock valued at $5,346,000 after buying an additional 2,191 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of NYSE:SYK opened at $358.72 on Friday. The company’s fifty day moving average is $375.06 and its 200 day moving average is $356.96. 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 52 week low of $292.43 and a 52 week high of $398.20. The stock has a market cap of $136.75 billion, a PE ratio of 38.45, a PEG ratio of 2.82 and a beta of 0.94.

Stryker (NYSE:SYK) last announced its quarterly 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 net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the prior year, the company posted $2.46 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. Research analysts anticipate that Stryker will post 12.06 earnings per share for the current 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 paid a $0.84 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio is currently 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.