Robert W. Baird Issues Positive Forecast for Stryker (NYSE:SYK) Stock Price

Stryker (NYSE:SYK) had its price target hoisted by Robert W. Baird from $378.00 to $405.00 in a research note published on Wednesday, Benzinga reports. They currently have an outperform rating on the medical technology company’s stock.

Other analysts also recently issued reports about the stock. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. BTIG Research increased their target price on Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $380.00 price target on shares of Stryker in a research note on Tuesday, September 10th. UBS Group increased their price objective on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus lowered their price target on shares of 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 seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Trading Up 3.1 %

Shares of SYK stock opened at $367.15 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The firm has a market cap of $139.96 billion, a P/E ratio of 39.35, a price-to-earnings-growth ratio of 2.69 and a beta of 0.91. The business has a 50-day moving average price of $360.18 and a two-hundred day moving average price of $344.26. Stryker has a 12-month low of $266.93 and a 12-month high of $374.63.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.46 earnings per share. Equities analysts anticipate that Stryker will post 12.06 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a $0.80 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. Stryker’s payout ratio is 34.30%.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on 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 sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,068 shares of company stock valued at $65,151,372 in the last three months. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Institutional investors have recently bought and sold shares of the company. Norden Group LLC bought a new position in shares of Stryker in the first quarter worth approximately $4,027,000. Kovack Advisors Inc. purchased a new position in Stryker in the 1st quarter worth approximately $224,000. New Century Financial Group LLC bought a new position in Stryker in the 1st quarter valued at approximately $220,000. Maryland State Retirement & Pension System boosted its stake in Stryker by 0.9% during the 1st quarter. Maryland State Retirement & Pension System now owns 27,892 shares of the medical technology company’s stock valued at $9,347,000 after purchasing an additional 236 shares during the last quarter. Finally, J.W. Cole Advisors Inc. increased its holdings in shares of Stryker by 6.8% in the 1st quarter. J.W. Cole Advisors Inc. now owns 2,606 shares of the medical technology company’s stock worth $933,000 after purchasing an additional 166 shares in 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.