Stryker Corporation (NYSE:SYK) Receives $427.50 Consensus Target Price from Brokerages

Shares of Stryker Corporation (NYSE:SYK) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $427.50.

A number of research firms have weighed in on SYK. Barclays reiterated an “overweight” rating and issued a $469.00 price target on shares of Stryker in a research report on Monday, February 2nd. The Goldman Sachs Group set a $399.00 price objective on shares of Stryker in a research report on Friday, January 9th. Robert W. Baird set a $437.00 target price on shares of Stryker in a research note on Friday, January 30th. UBS Group cut their price target on Stryker from $400.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. Finally, Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a report on Saturday, February 21st.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the transaction, the director directly owned 2,457,331 shares in the company, valued at $891,814,566.52. This represents a 9.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Stryker

Several hedge funds have recently modified their holdings of SYK. Norges Bank purchased a new position in Stryker during the fourth quarter valued at $1,822,272,000. Alliancebernstein L.P. lifted its stake in Stryker by 307.6% in the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after purchasing an additional 4,223,366 shares in the last quarter. Auto Owners Insurance Co boosted its holdings in shares of Stryker by 35,047.0% during the 4th quarter. Auto Owners Insurance Co now owns 2,914,741 shares of the medical technology company’s stock valued at $1,024,444,000 after purchasing an additional 2,906,448 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Stryker by 22.6% during the 4th quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company’s stock valued at $2,282,192,000 after purchasing an additional 1,198,665 shares during the last quarter. Finally, Corient Private Wealth LLC grew its position in shares of Stryker by 104.4% during the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after purchasing an additional 1,146,998 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 0.5%

SYK stock opened at $325.87 on Tuesday. Stryker has a twelve month low of $324.48 and a twelve month high of $404.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. The stock has a market cap of $124.80 billion, a P/E ratio of 38.79, a PEG ratio of 1.91 and a beta of 0.85. The business’s 50-day moving average price is $359.40 and its 200-day moving average price is $363.12.

Stryker (NYSE:SYK) last released its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same period in the prior year, the firm posted $4.01 EPS. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts forecast that Stryker will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.88 per share. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. Stryker’s dividend payout ratio (DPR) is currently 41.90%.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.