Canaccord Genuity Group Cuts Stryker (NYSE:SYK) Price Target to $385.00

Stryker (NYSE:SYK) had its price objective cut by Canaccord Genuity Group from $400.00 to $385.00 in a report released on Friday morning, MarketBeat.com reports. They currently have a buy rating on the medical technology company’s stock.

Several other research firms have also recently issued reports on SYK. Evercore set a $350.00 price objective on shares of Stryker in a research report on Monday, July 6th. Royal Bank Of Canada dropped their target price on shares of Stryker from $435.00 to $420.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Wolfe Research cut shares of Stryker from an “outperform” rating to a “peer perform” rating in a research note on Thursday, August 13th. UBS Group began coverage on shares of Stryker in a research note on Tuesday, July 28th. They issued a “buy” rating and a $400.00 price target on the stock. Finally, BTIG Research dropped their price objective on shares of Stryker from $371.00 to $358.00 and set a “buy” rating for the company in a report on Friday, July 31st. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average target price of $378.12.

Stryker Stock Performance

NYSE SYK opened at $274.80 on Friday. The company has a quick ratio of 1.33, a current ratio of 2.16 and a debt-to-equity ratio of 0.59. Stryker has a twelve month low of $267.00 and a twelve month high of $392.55. The business has a 50-day moving average price of $319.92 and a 200-day moving average price of $322.39. The firm has a market cap of $105.40 billion, a price-to-earnings ratio of 28.48, a price-to-earnings-growth ratio of 1.74 and a beta of 0.76.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, July 30th. The medical technology company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.20. Stryker had a return on equity of 23.63% and a net margin of 14.43%.The company had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter last year, the company earned $3.13 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. As a group, equities research analysts predict that Stryker will post 15 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, September 30th. Stryker’s payout ratio is currently 36.48%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 50,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $340.10, for a total transaction of $17,005,000.00. Following the sale, the director directly owned 2,251,375 shares in the company, valued at approximately $765,692,637.50. This represents a 2.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Debra King sold 826 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total transaction of $277,783.80. Following the completion of the transaction, the insider directly owned 6,210 shares of the company’s stock, valued at approximately $2,088,423. The trade was a 11.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 351,267 shares of company stock valued at $118,197,701 over the last 90 days. 4.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stryker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KCM Investment Advisors LLC grew its holdings in Stryker by 1.5% during the 4th quarter. KCM Investment Advisors LLC now owns 1,857 shares of the medical technology company’s stock worth $653,000 after acquiring an additional 28 shares in the last quarter. ICW Investment Advisors LLC lifted its position in shares of Stryker by 0.6% during the 4th quarter. ICW Investment Advisors LLC now owns 5,096 shares of the medical technology company’s stock worth $1,791,000 after purchasing an additional 30 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of Stryker by 1.2% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 2,678 shares of the medical technology company’s stock worth $880,000 after purchasing an additional 31 shares during the last quarter. Community Bank & Trust Waco Texas grew its stake in shares of Stryker by 2.3% during the second quarter. Community Bank & Trust Waco Texas now owns 1,395 shares of the medical technology company’s stock worth $439,000 after purchasing an additional 31 shares in the last quarter. Finally, Cornerstone Financial Management LLC boosted its position in shares of Stryker by 66.0% during the 2nd quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock worth $25,000 after acquiring an additional 31 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

About Stryker

Stryker Corporation is a global medical technology company headquartered in Portage, Michigan. The company develops and manufactures products used by hospitals, physicians and other healthcare providers across a range of medical specialties.

Stryker’s principal businesses include orthopaedics, medical and surgical equipment, and neurovascular products. Its offerings include joint replacement and trauma implants, spinal devices, surgical instruments, operating-room equipment, endoscopy systems, surgical navigation technologies, emergency-care products and devices used to treat neurovascular conditions such as stroke.

Founded in 1941 by Dr.