Stryker Co. (NYSE:SYK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Stryker Co. (NYSE:SYK) has been given an average recommendation of “Moderate Buy” by the eighteen research firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $367.32.

SYK has been the topic of a number of analyst reports. Citigroup lifted their price target on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Barclays raised their price target on shares of Stryker from $372.00 to $376.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price for the company in a research report on Wednesday, January 31st. Truist Financial lifted 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. Finally, Evercore ISI increased their price objective on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, April 4th.

Stryker Stock Performance

Shares of NYSE:SYK opened at $335.42 on Friday. The firm has a fifty day simple moving average of $340.69 and a two-hundred day simple moving average of $323.38. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $127.78 billion, a P/E ratio of 38.29, a PEG ratio of 2.57 and a beta of 0.91. Stryker has a 52 week low of $249.98 and a 52 week high of $361.41.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm 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 23.05%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business earned $2.14 EPS. On average, analysts expect that Stryker will post 11.94 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, June 28th. This represents a $3.20 annualized dividend and a dividend yield of 0.95%. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Insider Buying and Selling at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.50% of the stock is owned by insiders.

Institutional Trading of Stryker

Several hedge funds have recently made changes to their positions in SYK. Aspen Investment Management Inc lifted its position in shares of 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 grew its holdings in Stryker by 0.4% in the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock valued at $2,499,000 after purchasing an additional 31 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of Stryker by 2.4% in the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after buying an additional 33 shares in the last quarter. Bremer Bank National Association raised its stake in shares of Stryker by 4.0% during the 4th quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock worth $266,000 after buying an additional 34 shares during the last quarter. Finally, Simon Quick Advisors LLC boosted its position in shares of Stryker by 3.0% in the 4th quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock worth $347,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds 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.