Stryker (NYSE:SYK) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Stryker (NYSE:SYK) in a research report released on Tuesday morning,Benzinga reports. The firm currently has a $425.00 price objective on the medical technology company’s stock.

A number of other brokerages have also recently issued reports on SYK. Truist Financial upped their target price on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. UBS Group raised their target price on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Robert W. Baird upped their price target on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Finally, StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Wednesday, January 1st. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Stock Performance

Shares of SYK opened at $355.17 on Tuesday. 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 $294.34 and a 52-week high of $398.20. The stock has a 50 day moving average price of $375.25 and a 200 day moving average price of $357.42. The company has a market capitalization of $135.40 billion, a price-to-earnings ratio of 38.07, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95.

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

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.95%. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is currently 36.01%.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Stryker

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dunhill Financial LLC lifted its position in shares of 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 acquiring an additional 37 shares in the last quarter. Centennial Bank AR lifted its holdings in 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 purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Stryker during the 3rd quarter worth about $36,000. HBW Advisory Services LLC purchased a new stake in shares of Stryker during the third quarter worth about $42,000. Finally, Hara Capital LLC acquired a new position in shares of Stryker in the third quarter valued at approximately $42,000. Hedge funds and other institutional investors 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.