Stryker (NYSE:SYK) Price Target Increased to $380.00 by Analysts at Piper Sandler

Stryker (NYSE:SYK) had its target price lifted by Piper Sandler from $375.00 to $380.00 in a report released on Wednesday, Benzinga reports. Piper Sandler currently has an overweight rating on the medical technology company’s stock.

Other research analysts have also recently issued reports about the company. Truist Financial upped their price objective on Stryker from $330.00 to $345.00 and gave the company a hold rating in a report on Wednesday, January 31st. Robert W. Baird upped their price target on Stryker from $367.00 to $378.00 and gave the company an outperform rating in a research note on Wednesday. Needham & Company LLC reissued a hold rating on shares of Stryker in a research report on Wednesday. Royal Bank of Canada boosted their price objective on shares of Stryker from $360.00 to $386.00 and gave the company an outperform rating in a report on Monday, April 15th. Finally, Evercore ISI increased their target price on shares of 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $357.05.

Stryker Stock Down 2.5 %

Shares of NYSE:SYK opened at $328.14 on Wednesday. Stryker has a 52-week low of $249.98 and a 52-week high of $361.41. The stock has a market cap of $124.85 billion, a P/E ratio of 37.46, a PEG ratio of 2.71 and a beta of 0.91. The business has a fifty day moving average of $348.05 and a two-hundred day moving average of $316.78. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.44%. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the prior year, the firm posted $2.14 earnings per share. Stryker’s quarterly revenue was up 9.7% on a year-over-year basis. On average, research analysts expect that Stryker will post 11.86 earnings per share for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.98%. Stryker’s payout ratio is 36.53%.

Insider Buying and Selling at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction 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 SEC, which is accessible through this link. In related news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction dated 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 sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock valued at $72,845,768 in the last quarter. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brookstone Capital Management increased its stake in Stryker by 6.9% in the third quarter. Brookstone Capital Management now owns 8,022 shares of the medical technology company’s stock valued at $2,153,000 after purchasing an additional 521 shares during the last quarter. Accurate Wealth Management LLC raised its stake in Stryker by 10.4% during the 3rd quarter. Accurate Wealth Management LLC now owns 815 shares of the medical technology company’s stock worth $218,000 after acquiring an additional 77 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in Stryker by 28.4% in the third quarter. Kingswood Wealth Advisors LLC now owns 904 shares of the medical technology company’s stock valued at $247,000 after acquiring an additional 200 shares during the last quarter. Tectonic Advisors LLC boosted its stake in Stryker by 5.0% in the third quarter. Tectonic Advisors LLC now owns 2,153 shares of the medical technology company’s stock valued at $588,000 after acquiring an additional 102 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Stryker by 1.6% during the third quarter. Raymond James & Associates now owns 563,217 shares of the medical technology company’s stock worth $153,910,000 after purchasing an additional 9,005 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

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.