Stifel Nicolaus Increases Stryker (NYSE:SYK) Price Target to $375.00

Stryker (NYSE:SYK) had its price objective lifted by Stifel Nicolaus from $350.00 to $375.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the medical technology company’s stock.

A number of other equities research analysts have also recently commented on the company. TD Cowen raised their price target on Stryker from $365.00 to $400.00 and gave the company a buy rating in a report on Thursday, April 11th. Needham & Company LLC reissued a hold rating on shares of Stryker in a research note on Wednesday. Roth Mkm boosted their price target on Stryker from $345.00 to $348.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Canaccord Genuity Group upgraded shares of Stryker from a hold rating to a buy rating and set a $360.00 price objective on the stock in a research report on Wednesday, January 31st. Finally, BTIG Research upped their target price on shares of Stryker from $366.00 to $369.00 and gave the stock a buy rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $357.05.

Stryker Trading Down 2.5 %

Shares of NYSE:SYK opened at $328.14 on Wednesday. The stock has a 50 day moving average of $348.05 and a 200 day moving average of $316.78. The company has a market cap of $124.85 billion, a PE ratio of 37.46, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91. Stryker has a 12-month low of $249.98 and a 12-month high of $361.41. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.44%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.14 earnings per share. As a group, equities research analysts expect that Stryker will post 11.86 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were paid a dividend of $0.80 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.98%. Stryker’s payout ratio is currently 36.53%.

Insider Activity

In other news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock valued at $72,845,768 in the last ninety days. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Several hedge funds and other institutional investors have recently modified their holdings of SYK. Burkett Financial Services LLC purchased a new stake in Stryker in the fourth quarter worth $25,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after buying an additional 61 shares during the period. Rogco LP purchased a new position in shares of Stryker during the fourth quarter worth approximately $30,000. DSM Capital Partners LLC bought a new stake in shares of Stryker during the fourth quarter valued at approximately $34,000. Finally, HBC Financial Services PLLC purchased a new stake in shares of Stryker in the fourth quarter valued at approximately $37,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

About Stryker

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.