Wells Fargo & Company Boosts Stryker (NYSE:SYK) Price Target to $381.00

Stryker (NYSE:SYK) had its price target hoisted by Wells Fargo & Company from $364.00 to $381.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the medical technology company’s stock.

SYK has been the topic of a number of other research reports. StockNews.com raised Stryker from a hold rating to a buy rating in a research note on Tuesday, January 23rd. BTIG Research raised their price target on Stryker from $366.00 to $369.00 and gave the stock a buy rating in a research note on Wednesday. Needham & Company LLC reissued a hold rating on shares of Stryker in a research note on Wednesday. Roth Mkm raised their price target on Stryker from $348.00 to $405.00 and gave the stock a buy rating in a research note on Wednesday. Finally, Evercore ISI raised their price target on Stryker from $340.00 to $370.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Stryker currently has a consensus rating of Moderate Buy and a consensus target price of $365.94.

Stryker Stock Up 0.6 %

SYK opened at $328.45 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The firm has a market cap of $125.12 billion, a P/E ratio of 37.49, a PEG ratio of 2.56 and a beta of 0.91. Stryker has a 52 week low of $249.98 and a 52 week high of $361.41. The business’s fifty day simple moving average is $346.99 and its 200 day simple moving average is $317.29.

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

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were issued a $0.80 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.97%. Stryker’s dividend payout ratio (DPR) is 36.53%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, 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.

Institutional Investors Weigh In On Stryker

Several hedge funds and other institutional investors have recently bought and sold shares of SYK. Burkett Financial Services LLC purchased a new stake in Stryker during the 4th quarter worth approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 61 shares during the last quarter. Rogco LP purchased a new stake in Stryker during the 4th quarter worth approximately $30,000. DSM Capital Partners LLC purchased a new stake in Stryker during the 4th quarter worth approximately $34,000. Finally, HBC Financial Services PLLC purchased a new stake in Stryker during the 4th quarter worth 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.