Stryker Corporation (NYSE:SYK) Receives $392.52 Consensus PT from Analysts

Stryker Corporation (NYSE:SYK) has been assigned an average rating of “Moderate Buy” from the twenty-three analysts that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $393.3913.

SYK has been the topic of a number of research reports. Weiss Ratings lowered shares of Stryker from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Evercore set a $350.00 price target on shares of Stryker in a research report on Monday, July 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $361.00 price target on shares of Stryker in a research note on Friday, May 1st. Sanford C. Bernstein set a $410.00 price objective on shares of Stryker in a research report on Friday, May 1st. Finally, Leerink Partners dropped their price objective on shares of Stryker from $410.00 to $407.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th.

Stryker Stock Up 1.7%

Shares of NYSE SYK opened at $352.35 on Monday. The business has a 50-day moving average price of $316.38 and a 200 day moving average price of $335.11. The stock has a market cap of $135.08 billion, a PE ratio of 40.78, a price-to-earnings-growth ratio of 2.22 and a beta of 0.77. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62. Stryker has a 52-week low of $281.00 and a 52-week high of $403.22.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, April 30th. The medical technology company reported $2.60 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.38). Stryker had a return on equity of 23.42% and a net margin of 13.20%.The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.34 billion. During the same period last year, the firm earned $2.84 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts forecast that Stryker will post 14.99 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Stryker’s payout ratio is 40.74%.

Insider Buying and Selling at Stryker

In other Stryker news, VP M Kathryn Fink sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $283.45, for a total transaction of $992,075.00. Following the completion of the sale, the vice president directly owned 177 shares of the company’s stock, valued at $50,170.65. This represents a 95.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 310,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total value of $96,791,300.00. Following the sale, the director directly owned 1,924,880 shares of the company’s stock, valued at $601,005,282.40. The trade was a 13.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 323,264 shares of company stock valued at $100,659,489 in the last ninety days. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Stryker

A number of large investors have recently bought and sold shares of SYK. Norges Bank acquired a new position in shares of Stryker during the fourth quarter worth about $1,822,272,000. Auto Owners Insurance Co lifted its position in Stryker by 35,047.0% in the fourth 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 period. Wellington Management Group LLP lifted its position in Stryker by 22.6% in the fourth 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 period. Corient Private Wealth LLC boosted its holdings in Stryker by 104.4% in the 2nd 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. Finally, Arrowstreet Capital Limited Partnership increased its position in Stryker by 241.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,555,638 shares of the medical technology company’s stock worth $511,167,000 after purchasing an additional 1,100,673 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Company Profile

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.