Stryker (NYSE:SYK) Given New $405.00 Price Target at Wells Fargo & Company

Stryker (NYSE:SYK) had its target price upped by Wells Fargo & Company from $381.00 to $405.00 in a research report released on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical technology company’s stock.

SYK has been the topic of a number of other research reports. UBS Group increased their target price on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Evercore ISI increased their target price on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday. Robert W. Baird increased their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday. Wolfe Research began coverage on Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price on the stock. Finally, StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $393.65.

Stryker Stock Performance

NYSE SYK opened at $367.15 on Wednesday. Stryker has a 1-year low of $266.93 and a 1-year high of $374.63. The company has a market capitalization of $139.96 billion, a P/E ratio of 39.35, a PEG ratio of 2.69 and a beta of 0.91. The business has a 50 day moving average price of $360.18 and a 200 day moving average price of $344.31. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 0.95.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period last year, the business posted $2.46 EPS. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. Sell-side analysts expect that Stryker will post 12.06 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.87%. The ex-dividend date was Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 34.30%.

Insider Buying and Selling at Stryker

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 200,068 shares of company stock valued at $65,151,372 over the last three months. 5.90% of the stock is owned by company insiders.

Institutional Trading of Stryker

A number of hedge funds and other institutional investors have recently modified their holdings of SYK. International Assets Investment Management LLC increased its position in shares of Stryker by 66,967.5% during the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after acquiring an additional 852,496 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Stryker by 10.4% during the first 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 during the last quarter. 1832 Asset Management L.P. increased its position in shares of Stryker by 146.9% during the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after acquiring an additional 522,817 shares during the last quarter. American Century Companies Inc. increased its position in shares of Stryker by 287.6% during the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after acquiring an additional 375,166 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Stryker by 1.0% during the first 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 during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

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.