Stryker (NYSE:SYK) Given New $316.00 Price Target at BTIG Research

Stryker (NYSE:SYK) had its price objective decreased by BTIG Research from $358.00 to $316.00 in a report published on Monday morning, MarketBeat reports. BTIG Research currently has a buy rating on the medical technology company’s stock.

A number of other equities research analysts also recently commented on SYK. Argus set a $370.00 target price on Stryker in a research report on Thursday, July 9th. Citizens Jmp lowered their price target on Stryker from $440.00 to $400.00 and set a “market outperform” rating for the company in a report on Monday, August 3rd. Raymond James Financial set a $370.00 price target on Stryker in a report on Friday, July 31st. Wolfe Research downgraded Stryker from an “outperform” rating to a “peer perform” rating in a research report on Thursday, August 13th. Finally, UBS Group initiated coverage on shares of Stryker in a report on Tuesday, July 28th. They issued a “buy” rating and a $400.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $369.00.

Stryker Stock Up 1.9%

SYK stock opened at $282.61 on Monday. The firm has a market cap of $108.40 billion, a PE ratio of 29.29, a PEG ratio of 1.75 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.33 and a current ratio of 2.16. The firm’s 50 day moving average price is $303.25 and its 200-day moving average price is $313.89. Stryker has a one year low of $267.00 and a one year high of $392.55.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, July 30th. The medical technology company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.20. The firm had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.58 billion. Stryker had a return on equity of 23.63% and a net margin of 14.43%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.13 earnings per share. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. On average, equities research analysts anticipate that Stryker will post 14.96 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.2%. Stryker’s dividend payout ratio (DPR) is presently 36.48%.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 50,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $340.10, for a total transaction of $17,005,000.00. Following the transaction, the director directly owned 2,251,375 shares in the company, valued at $765,692,637.50. This represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dylan Crotty sold 441 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $328.61, for a total value of $144,917.01. Following the transaction, the insider owned 6,102 shares of the company’s stock, valued at approximately $2,005,178.22. This represents a 6.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 351,267 shares of company stock worth $118,197,701. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Stryker

Institutional investors and hedge funds have recently modified their holdings of the company. Rockland Trust Co. raised its stake in Stryker by 1.1% during the 3rd quarter. Rockland Trust Co. now owns 3,365 shares of the medical technology company’s stock worth $927,000 after acquiring an additional 36 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Stryker by 22.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 10,436 shares of the medical technology company’s stock valued at $3,286,000 after acquiring an additional 1,915 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Stryker by 12.2% in the second quarter. Envestnet Asset Management Inc. now owns 650,461 shares of the medical technology company’s stock valued at $204,790,000 after acquiring an additional 70,634 shares in the last quarter. State Street Corp grew its holdings in shares of Stryker by 1.2% during the second quarter. State Street Corp now owns 15,532,565 shares of the medical technology company’s stock worth $4,903,772,000 after purchasing an additional 183,400 shares during the last quarter. Finally, Security National Bank of Sioux City Iowa IA purchased a new position in shares of Stryker during the second quarter worth about $62,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

About Stryker

Stryker Corporation (NYSE: SYK) is a global medical technology company that develops and manufactures products used in hospitals, surgical centers and other healthcare settings. Founded in 1941 by Dr. Homer Stryker in Kalamazoo, Michigan, the company has grown from an orthopedic device business into a diversified provider of medical technologies.

Stryker’s product portfolio includes orthopedic implants and instruments, surgical equipment, neurovascular devices, spine products, patient-handling and emergency-care equipment, operating-room systems, and digital and robotic technologies.