UBS Group Raises Stryker (NYSE:SYK) Price Target to $366.00

Stryker (NYSE:SYK) had its target price lifted by UBS Group from $351.00 to $366.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the medical technology company’s stock.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group initiated coverage on shares of Stryker in a research report on Thursday, May 30th. They set a neutral rating and a $372.00 target price on the stock. Royal Bank of Canada upped their price objective on shares of Stryker from $360.00 to $386.00 and gave the stock an outperform rating in a report on Monday, April 15th. Evercore ISI lowered their price objective on shares of Stryker from $370.00 to $365.00 and set an outperform rating on the stock in a report on Tuesday, July 2nd. TD Cowen upped their price objective on shares of Stryker from $365.00 to $400.00 and gave the stock a buy rating in a report on Thursday, April 11th. Finally, Stifel Nicolaus upped their price objective on shares of Stryker from $350.00 to $375.00 and gave the stock a buy rating in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Stryker has an average rating of Moderate Buy and a consensus target price of $373.11.

Stryker Stock Down 0.5 %

Stryker stock opened at $331.56 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. Stryker has a 12-month low of $249.98 and a 12-month high of $361.41. The firm’s fifty day moving average is $338.87 and its 200 day moving average is $339.61. The company has a market capitalization of $126.31 billion, a PE ratio of 37.85, a PEG ratio of 2.57 and a beta of 0.89.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 23.26%. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the previous year, the company earned $2.54 EPS. Stryker’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that Stryker will post 11.98 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. Stryker’s dividend payout ratio is presently 36.53%.

Insiders Place Their Bets

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Carnegie Capital Asset Management LLC boosted its position in Stryker by 0.5% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock worth $28,820,000 after purchasing an additional 497 shares during the period. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Stryker in the fourth quarter worth about $1,561,000. Consolidated Planning Corp purchased a new stake in shares of Stryker in the fourth quarter worth about $205,000. Meritage Portfolio Management purchased a new stake in shares of Stryker in the fourth quarter worth about $569,000. Finally, Patton Albertson Miller Group LLC lifted its holdings in shares of Stryker by 23.7% in the fourth quarter. Patton Albertson Miller Group LLC now owns 17,825 shares of the medical technology company’s stock worth $5,338,000 after buying an additional 3,415 shares in the last quarter. Institutional investors 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.