Stryker (NYSE:SYK) Price Target Increased to $378.00 by Analysts at Robert W. Baird

Stryker (NYSE:SYK) had its price objective boosted by Robert W. Baird from $367.00 to $378.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the medical technology company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity Group raised shares of Stryker from a hold rating to a buy rating and boosted their target price for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Citigroup boosted their price objective on Stryker from $362.00 to $406.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. BTIG Research increased their price objective on Stryker from $366.00 to $369.00 and gave the stock a buy rating in a report on Wednesday. Canaccord Genuity Group raised Stryker from a hold rating to a buy rating and set a $360.00 target price for the company in a report on Wednesday, January 31st. Finally, Truist Financial increased their price target on shares of Stryker from $330.00 to $345.00 and gave the stock a hold rating in a report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $357.05.

Stryker Stock Down 2.5 %

Shares of NYSE SYK opened at $328.14 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. The stock has a market capitalization of $124.85 billion, a PE ratio of 37.46, a P/E/G ratio of 2.71 and a beta of 0.91. Stryker has a one year low of $249.98 and a one year high of $361.41. The business’s fifty day moving average price is $348.05 and its 200-day moving average price is $316.78.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.14 earnings per share. On average, equities research analysts anticipate that Stryker will post 11.86 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were paid a $0.80 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.98%. Stryker’s dividend payout ratio is presently 36.53%.

Insider Buying and Selling at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction on Monday, February 5th. The shares were 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 legal filing with the SEC, which is available through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock worth $72,845,768 over the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SYK. Aspen Investment Management Inc boosted its holdings in Stryker by 0.7% during the 1st quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock valued at $1,563,000 after acquiring an additional 31 shares during the period. Harbor Investment Advisory LLC increased its stake in Stryker by 0.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after purchasing an additional 31 shares during the period. Bremer Bank National Association lifted its position in Stryker by 4.0% in the fourth quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock valued at $266,000 after purchasing an additional 34 shares during the last quarter. Simon Quick Advisors LLC boosted its stake in shares of Stryker by 3.0% during the fourth quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock valued at $347,000 after purchasing an additional 34 shares during the period. Finally, Consolidated Portfolio Review Corp grew its holdings in shares of Stryker by 3.6% in the fourth quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock worth $294,000 after purchasing an additional 34 shares during the last quarter. 77.09% of the stock is owned by 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.