Stryker Corporation (NYSE:SYK) Receives $430.40 Average Target Price from Analysts

Stryker Corporation (NYSE:SYK) has received an average recommendation of “Moderate Buy” from the twenty brokerages that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $430.00.

SYK has been the subject of several research analyst reports. Redburn Partners set a $420.00 price target on shares of Stryker in a research note on Thursday, September 18th. Barclays raised their price objective on Stryker from $443.00 to $453.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Truist Financial decreased their target price on Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Raymond James Financial upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 target price for the company in a report on Tuesday. Finally, BTIG Research restated a “buy” rating and set a $410.00 price target on shares of Stryker in a research note on Friday, November 14th.

Insider Activity

In related news, CAO William E. Berry, Jr. sold 1,953 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the transaction, the chief accounting officer owned 2,833 shares of the company’s stock, valued at $1,035,433.17. The trade was a 40.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Preston Wendell Wells sold 165 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the sale, the chief financial officer owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. This represents a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 522,118 shares of company stock worth $185,381,932. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Stryker by 0.8% in the third quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company’s stock valued at $12,485,012,000 after purchasing an additional 272,828 shares during the last quarter. State Street Corp lifted its position in shares of Stryker by 1.0% during the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock valued at $5,929,765,000 after buying an additional 150,204 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Stryker by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock valued at $2,910,445,000 after buying an additional 79,654 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Stryker by 13.3% in the 3rd quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company’s stock worth $2,342,987,000 after buying an additional 741,542 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Stryker during the 2nd quarter worth approximately $1,882,173,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Up 0.1%

NYSE:SYK opened at $367.75 on Thursday. The company has a market cap of $140.64 billion, a price-to-earnings ratio of 48.32, a price-to-earnings-growth ratio of 2.35 and a beta of 0.89. Stryker has a twelve month low of $329.16 and a twelve month high of $406.19. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $359.91 and a 200-day simple moving average of $375.08.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.13 by $0.06. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.87 EPS. Analysts anticipate that Stryker will post 13.47 EPS for the current year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.88 per share. This is a positive change from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. Stryker’s payout ratio is 46.25%.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.