Stryker Corporation (NYSE:SYK) Receives $430.40 Consensus Target Price from Analysts

Shares of Stryker Corporation (NYSE:SYK) have received a consensus recommendation of “Moderate Buy” from the twenty research firms that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $430.00.

A number of research analysts have recently commented on the company. Citigroup lowered their price objective on Stryker from $455.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Wells Fargo & Company increased their price target on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Rothschild Redb raised shares of Stryker to a “hold” rating in a research report on Thursday, September 18th. Rothschild & Co Redburn began coverage on shares of Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective for the company. Finally, BTIG Research reiterated a “buy” rating and issued a $410.00 target price on shares of Stryker in a research note on Friday, November 14th.

Stryker Stock Down 1.7%

Stryker stock opened at $361.30 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68. Stryker has a 1-year low of $329.16 and a 1-year high of $406.19. The firm’s fifty day simple moving average is $359.97 and its 200-day simple moving average is $374.75. The company has a market capitalization of $138.17 billion, a P/E ratio of 47.48, a P/E/G ratio of 2.35 and a beta of 0.89.

Stryker (NYSE:SYK) last posted its earnings results on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.13 by $0.06. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The firm had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. During the same period in the prior year, the business posted $2.87 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Sell-side analysts forecast that Stryker will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a $0.88 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Stryker’s dividend payout ratio (DPR) is 46.25%.

Insider Transactions at Stryker

In other Stryker news, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction that occurred on Thursday, November 20th. The stock was 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 of the company’s stock, valued at $2,449,200.72. The trade was a 2.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO William E. Berry, Jr. sold 1,953 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the transaction, the chief accounting officer owned 2,833 shares of the company’s stock, valued at approximately $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 522,118 shares of company stock worth $185,381,932. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Stryker

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mid American Wealth Advisory Group Inc. bought a new position in shares of Stryker during the 2nd quarter worth about $26,000. Clayton Financial Group LLC bought a new stake in shares of Stryker in the third quarter valued at about $26,000. Elevation Point Wealth Partners LLC acquired a new stake in Stryker during the second quarter worth about $28,000. Sachetta LLC increased its stake in Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 27 shares during the period. Finally, Kilter Group LLC acquired a new position in Stryker in the 2nd quarter valued at approximately $29,000. 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.