Barclays Boosts Stryker (NYSE:SYK) Price Target to $376.00

Stryker (NYSE:SYK) had its target price hoisted by Barclays from $372.00 to $376.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.

Several other equities research analysts have also recently weighed in on the stock. Evercore ISI boosted their price target on shares of Stryker from $340.00 to $370.00 and gave the stock an outperform rating in a research report on Thursday, April 4th. Stifel Nicolaus boosted their target price on shares of Stryker from $350.00 to $375.00 and gave the stock a buy rating in a report on Wednesday, May 1st. Wells Fargo & Company increased their price target on shares of Stryker from $364.00 to $381.00 and gave the company an overweight rating in a report on Wednesday, May 1st. Roth Mkm boosted their price objective on Stryker from $348.00 to $405.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Finally, Robert W. Baird raised their price objective on Stryker from $367.00 to $378.00 and gave the company an outperform rating in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $365.94.

Stryker Stock Performance

Shares of NYSE SYK opened at $328.45 on Thursday. The company has a market cap of $125.12 billion, a P/E ratio of 37.49, a P/E/G ratio of 2.56 and a beta of 0.91. Stryker has a 52-week low of $249.98 and a 52-week high of $361.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. The firm’s fifty day moving average is $346.99 and its two-hundred day moving average is $317.97.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.14 earnings per share. As a group, analysts anticipate that Stryker will post 11.94 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were paid a $0.80 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. Stryker’s dividend payout ratio is currently 36.53%.

Insider Activity

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Stryker

Several large investors have recently modified their holdings of SYK. Vanguard Group Inc. raised its stake in Stryker by 0.5% in the third quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock worth $8,379,967,000 after buying an additional 143,631 shares in the last quarter. Greenleaf Trust boosted its position in Stryker by 0.6% during the first quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock valued at $6,655,089,000 after purchasing an additional 108,080 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after purchasing an additional 642,178 shares during the last quarter. FMR LLC raised its holdings in Stryker by 2.5% in the third quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock worth $1,632,127,000 after purchasing an additional 144,208 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Stryker by 4.4% during the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after buying an additional 223,728 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Company Profile

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.