Stryker Corporation (NYSE:SYK) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Stryker Corporation (NYSE:SYK) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $427.50.

Several research firms have commented on SYK. Robert W. Baird set a $437.00 price target on Stryker in a report on Friday, January 30th. Barclays restated an “overweight” rating and set a $469.00 price objective on shares of Stryker in a research report on Monday, February 2nd. Truist Financial cut their target price on Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. Evercore set a $390.00 target price on Stryker in a research report on Monday, January 5th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd.

Stryker Stock Performance

NYSE:SYK opened at $327.49 on Tuesday. The firm’s 50-day moving average is $360.17 and its 200-day moving average is $363.70. The company has a market cap of $125.42 billion, a price-to-earnings ratio of 38.99, a PEG ratio of 1.91 and a beta of 0.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. Stryker has a 52-week low of $324.93 and a 52-week high of $404.87.

Stryker (NYSE:SYK) last released its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter last year, the company earned $4.01 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. Equities research analysts anticipate that Stryker will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Stryker’s payout ratio is 41.90%.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the sale, the director owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Stryker

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Stryker in the 4th quarter worth approximately $1,822,272,000. Alliancebernstein L.P. boosted its stake in Stryker by 307.6% in the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after buying an additional 4,223,366 shares in the last quarter. Auto Owners Insurance Co boosted its stake in Stryker by 35,047.0% in the 4th quarter. Auto Owners Insurance Co now owns 2,914,741 shares of the medical technology company’s stock valued at $1,024,444,000 after buying an additional 2,906,448 shares in the last quarter. Wellington Management Group LLP grew its position in Stryker by 22.6% in the fourth quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company’s stock valued at $2,282,192,000 after acquiring an additional 1,198,665 shares during the period. Finally, Corient Private Wealth LLC raised its stake in Stryker by 104.4% during the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after acquiring an additional 1,146,998 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

About Stryker

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.