Piper Sandler Increases Stryker (NYSE:SYK) Price Target to $380.00

Stryker (NYSE:SYK) had its target price boosted by Piper Sandler from $375.00 to $380.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.

Several other research analysts also recently commented on the stock. Canaccord Genuity Group upgraded shares of Stryker from a hold rating to a buy rating and lifted their target price for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. Robert W. Baird boosted their price objective on Stryker from $367.00 to $378.00 and gave the stock an outperform rating in a research report on Wednesday. Roth Mkm raised their target price on Stryker from $345.00 to $348.00 and gave the company a buy rating in a report on Wednesday, January 31st. Wells Fargo & Company upped their price target on Stryker from $336.00 to $364.00 and gave the stock an overweight rating in a report on Wednesday, January 31st. Finally, TD Cowen raised their price objective on shares of Stryker from $365.00 to $400.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $365.94.

Stryker Price Performance

NYSE SYK opened at $328.45 on Wednesday. The company has a 50 day moving average price of $346.99 and a two-hundred day moving average price of $317.29. Stryker has a 12-month low of $249.98 and a 12-month high of $361.41. The stock has a market capitalization of $125.12 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 2.56 and a beta of 0.91. The company has a quick ratio of 0.97, a current ratio of 1.71 and a debt-to-equity ratio of 0.56.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the prior year, the company posted $2.14 earnings per share. Stryker’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities analysts predict that Stryker will post 11.94 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction 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 sale, the director now owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction dated 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 completion of the transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were 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 $1,317,414. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

Several institutional investors have recently bought and sold shares of SYK. WBI Investments LLC bought a new position in shares of Stryker in the first quarter valued at about $1,967,000. Catalina Capital Group LLC raised its stake in shares of Stryker by 103.9% in the first quarter. Catalina Capital Group LLC now owns 1,527 shares of the medical technology company’s stock worth $546,000 after acquiring an additional 778 shares during the last quarter. Avidian Wealth Solutions LLC raised its stake in shares of Stryker by 33.9% in the first quarter. Avidian Wealth Solutions LLC now owns 2,385 shares of the medical technology company’s stock worth $853,000 after acquiring an additional 604 shares during the last quarter. Mediolanum International Funds Ltd acquired a new position in shares of Stryker during the first quarter worth approximately $18,694,000. Finally, Larson Financial Group LLC grew its stake in shares of Stryker by 1.6% during the first quarter. Larson Financial Group LLC now owns 10,577 shares of the medical technology company’s stock valued at $3,785,000 after purchasing an additional 171 shares during 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.