Stryker (NYSE:SYK) Given Buy Rating at Citigroup

Citigroup restated their buy rating on shares of Stryker (NYSE:SYK) in a research report sent to investors on Wednesday, MarketBeat.com reports. They currently have a $450.00 target price on the medical technology company’s stock.

SYK has been the subject of a number of other reports. Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 price target on shares of Stryker in a report on Wednesday, January 29th. Evercore ISI lifted their price target on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group lifted their price target on Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. UBS Group lifted their price target on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Argus set a $450.00 price target on Stryker in a report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average target price of $422.15.

Stryker Trading Up 0.3 %

SYK opened at $391.54 on Wednesday. Stryker has a 12 month low of $314.93 and a 12 month high of $406.19. The stock has a market capitalization of $149.40 billion, a price-to-earnings ratio of 50.46, a PEG ratio of 2.93 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The business has a fifty day moving average price of $379.42 and a 200 day moving average price of $370.37.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the previous year, the business posted $3.46 earnings per share. Sell-side analysts expect that Stryker will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio is presently 43.30%.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the transaction, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the transaction, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Stryker

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYK. Assenagon Asset Management S.A. increased its position in Stryker by 15.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 10,304 shares of the medical technology company’s stock worth $3,722,000 after purchasing an additional 1,392 shares during the period. Arkadios Wealth Advisors grew its holdings in shares of Stryker by 23.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 732 shares of the medical technology company’s stock worth $265,000 after acquiring an additional 137 shares during the period. Old Port Advisors grew its holdings in shares of Stryker by 5.2% in the 3rd quarter. Old Port Advisors now owns 934 shares of the medical technology company’s stock worth $337,000 after acquiring an additional 46 shares during the period. MONECO Advisors LLC grew its holdings in shares of Stryker by 12.3% in the 3rd quarter. MONECO Advisors LLC now owns 1,939 shares of the medical technology company’s stock worth $701,000 after acquiring an additional 213 shares during the period. Finally, Strategic Blueprint LLC grew its holdings in shares of Stryker by 5.8% in the 3rd quarter. Strategic Blueprint LLC now owns 1,426 shares of the medical technology company’s stock worth $515,000 after acquiring an additional 78 shares during the period. Institutional investors and hedge funds 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.