Stryker Corporation (NYSE:SYK) Receives $426.95 Consensus Price Target from Brokerages

Shares of Stryker Corporation (NYSE:SYK) have received an average recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $426.5556.

SYK has been the subject of a number of recent research reports. Citizens Jmp upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective for the company in a research note on Friday, December 19th. Sanford C. Bernstein increased their price target on shares of Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a research report on Friday, January 9th. BTIG Research lifted their price objective on Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a report on Friday, January 30th. The Goldman Sachs Group set a $399.00 price objective on Stryker in a research note on Friday, January 9th. Finally, Raymond James Financial upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price for the company in a research report on Tuesday, January 6th.

Stryker Price Performance

Shares of SYK stock opened at $360.19 on Monday. Stryker has a 12 month low of $329.16 and a 12 month high of $404.87. The company has a market capitalization of $137.74 billion, a P/E ratio of 42.88, a P/E/G ratio of 2.11 and a beta of 0.87. The stock has a 50 day moving average of $358.84 and a two-hundred day moving average of $371.11. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. The business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.Stryker’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business posted $4.01 earnings per share. As a group, equities analysts expect that Stryker will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s payout ratio is currently 41.90%.

Insider Activity

In other Stryker news, CFO Preston Wendell Wells sold 165 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the transaction, the chief financial officer directly owned 6,694 shares in the company, valued at $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO William E. Berry, Jr. sold 1,953 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $365.49, for a total transaction of $713,801.97. Following the sale, the chief accounting officer directly owned 2,833 shares in the company, valued at $1,035,433.17. This represents a 40.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SYK. Norges Bank acquired a new position in Stryker in the second quarter worth $1,882,173,000. Alliancebernstein L.P. increased its stake in shares of Stryker by 307.6% in the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after buying an additional 4,223,366 shares in the last quarter. Corient Private Wealth LLC raised its holdings in shares of Stryker by 104.4% in 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 buying an additional 1,146,998 shares during the last quarter. Strive Asset Management LLC acquired a new position in Stryker during the 3rd quarter worth about $227,389,000. Finally, Credit Agricole S A acquired a new position in Stryker during the 3rd quarter worth about $194,045,000. 77.09% of the stock is owned by institutional investors and hedge funds.

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.