Stryker Co. (NYSE:SYK) Receives $378.58 Average Price Target from Brokerages

Shares of Stryker Co. (NYSE:SYK) have received a consensus recommendation of “Moderate Buy” from the nineteen analysts that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $378.58.

SYK has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on Stryker in a report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $386.00 target price on shares of Stryker in a report on Wednesday, July 31st. Truist Financial decreased their target price on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Wolfe Research assumed coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target on the stock. Finally, Piper Sandler reiterated an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research report on Tuesday, September 10th.

Insider Activity

In related news, insider Viju Menon sold 600 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock worth $71,811,372 in the last three months. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Institutional investors and hedge funds have recently bought and sold shares of the stock. Centaurus Financial Inc. increased its stake in Stryker by 11.3% in the 2nd quarter. Centaurus Financial Inc. now owns 1,047 shares of the medical technology company’s stock worth $356,000 after acquiring an additional 106 shares during the last quarter. Heritage Wealth Management Inc. purchased a new position in shares of Stryker in the second quarter valued at $1,206,000. Sanctuary Advisors LLC bought a new stake in Stryker in the second quarter worth $19,301,000. Clear Rock Advisors LLC raised its stake in Stryker by 1.4% during the second quarter. Clear Rock Advisors LLC now owns 10,426 shares of the medical technology company’s stock valued at $3,547,000 after purchasing an additional 140 shares in the last quarter. Finally, Centennial Bank AR lifted its position in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Down 1.5 %

NYSE:SYK opened at $361.00 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The firm has a market cap of $137.52 billion, a P/E ratio of 41.21, a P/E/G ratio of 2.87 and a beta of 0.91. Stryker has a fifty-two week low of $249.98 and a fifty-two week high of $374.63. The firm has a 50-day simple moving average of $346.43 and a two-hundred day simple moving average of $342.89.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.02. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.54 earnings per share. Analysts predict that Stryker will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

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.