Stryker Corporation (NYSE:SYK) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Stryker Corporation (NYSE:SYK) have received an average rating of “Moderate Buy” from the eighteen ratings firms that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $434.3158.

Several research firms have recently weighed in on SYK. Weiss Ratings restated a “buy (b-)” rating on shares of Stryker in a report on Wednesday, October 8th. Truist Financial reduced their price target on Stryker from $415.00 to $407.00 and set a “hold” rating on the stock in a report on Wednesday, October 15th. Rothschild & Co Redburn began coverage on Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price target on the stock. Needham & Company LLC boosted their price target on Stryker from $442.00 to $448.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, Barclays upped their target price on Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Viju Menon sold 500 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the transaction, the insider owned 12,511 shares in the company, valued at $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

A number of institutional investors and hedge funds have recently modified their holdings of the business. Consolidated Portfolio Review Corp boosted its holdings in shares of Stryker by 4.2% during the 2nd quarter. Consolidated Portfolio Review Corp now owns 648 shares of the medical technology company’s stock worth $256,000 after buying an additional 26 shares in the last quarter. Princeton Global Asset Management LLC boosted its holdings in shares of Stryker by 16.9% during the 2nd quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock worth $71,000 after buying an additional 26 shares in the last quarter. Sunflower Bank N.A. boosted its holdings in shares of Stryker by 4.0% during the 2nd quarter. Sunflower Bank N.A. now owns 696 shares of the medical technology company’s stock worth $275,000 after buying an additional 27 shares in the last quarter. Pitti Group Wealth Management LLC boosted its holdings in shares of Stryker by 3.2% during the 2nd quarter. Pitti Group Wealth Management LLC now owns 861 shares of the medical technology company’s stock worth $341,000 after buying an additional 27 shares in the last quarter. Finally, Sachetta LLC raised its position in shares of Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 27 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Down 1.8%

Shares of NYSE SYK opened at $369.17 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The company has a market cap of $141.14 billion, a price-to-earnings ratio of 48.90, a PEG ratio of 2.71 and a beta of 0.94. Stryker has a 12 month low of $329.16 and a 12 month high of $406.19. The stock has a 50-day moving average price of $379.14 and a two-hundred day moving average price of $380.62.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.06. The company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.81 earnings per share. As a group, analysts forecast that Stryker will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker’s dividend payout ratio is presently 44.50%.

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.