Stryker (NYSE:SYK) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Stryker (NYSE:SYK) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Other equities research analysts have also issued reports about the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. TD Cowen cut Stryker from a “buy” rating to a “hold” rating and set a $387.00 price target on the stock. in a research note on Monday, January 26th. Sanford C. Bernstein upped their price objective on shares of Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. Raymond James Financial upgraded shares of 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, January 6th. Finally, Piper Sandler restated an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $426.94.

Stryker Price Performance

Shares of NYSE SYK opened at $380.15 on Friday. Stryker has a twelve month low of $329.16 and a twelve month high of $404.87. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average of $360.05 and a two-hundred day moving average of $368.86. The company has a market capitalization of $145.48 billion, a price-to-earnings ratio of 45.26, a PEG ratio of 2.22 and a beta of 0.87.

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

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a yield of 0.9%. Stryker’s payout ratio is presently 41.90%.

Insiders Place Their Bets

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

Institutional Trading of Stryker

Institutional investors have recently bought and sold shares of the company. Kovack Advisors Inc. raised its stake in shares of Stryker by 3.6% during the 2nd quarter. Kovack Advisors Inc. now owns 771 shares of the medical technology company’s stock worth $305,000 after purchasing an additional 27 shares in the last quarter. Armstrong Advisory Group Inc. increased its holdings in Stryker by 12.3% in the third quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock worth $91,000 after buying an additional 27 shares during the last quarter. Venturi Wealth Management LLC raised its position in Stryker by 1.4% during the third quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock valued at $704,000 after acquiring an additional 27 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in Stryker by 3.9% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company’s stock valued at $275,000 after acquiring an additional 28 shares during the last quarter. Finally, Wolff Wiese Magana LLC lifted its stake in Stryker by 2.3% in the third quarter. Wolff Wiese Magana LLC now owns 1,271 shares of the medical technology company’s stock valued at $470,000 after acquiring an additional 28 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

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.