Stryker (NYSE:SYK) Given New $402.00 Price Target at Barclays

Stryker (NYSE:SYK) had its price target boosted by Barclays from $374.00 to $402.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the medical technology company’s stock.

Other equities analysts have also issued reports about the stock. TD Cowen increased their price target on shares of Stryker from $365.00 to $400.00 and gave the company a buy rating in a research note on Thursday, April 11th. StockNews.com upgraded shares of Stryker from a hold rating to a buy rating in a research report on Thursday, July 11th. Morgan Stanley increased their price target on Stryker from $345.00 to $350.00 and gave the stock an equal weight rating in a report on Monday, July 15th. UBS Group increased their price target on Stryker from $351.00 to $366.00 and gave the stock a neutral rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus reduced their target price on Stryker from $375.00 to $365.00 and set a buy rating for the company in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $373.11.

Stryker Stock Down 0.5 %

Shares of SYK opened at $331.56 on Thursday. The stock has a market capitalization of $126.35 billion, a PE ratio of 37.85, a P/E/G ratio of 2.56 and a beta of 0.89. Stryker has a 1 year low of $249.98 and a 1 year high of $361.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 1.68. The company’s 50-day simple moving average is $338.87 and its 200-day simple moving average is $339.97.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.02. The business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.54 earnings per share. Analysts forecast that Stryker will post 11.99 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Friday, June 28th. Stryker’s dividend payout ratio is presently 36.53%.

Insider Buying and Selling at Stryker

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Stryker

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Stryker by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after acquiring an additional 309,592 shares in the last quarter. Greenleaf Trust lifted its position in Stryker by 0.6% during the 1st quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock worth $6,655,089,000 after acquiring an additional 108,080 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Stryker by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after acquiring an additional 642,178 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after acquiring an additional 813,311 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Stryker by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 4,686,440 shares of the medical technology company’s stock worth $1,403,401,000 after acquiring an additional 29,209 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

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.