Roth Mkm Boosts Stryker (NYSE:SYK) Price Target to $405.00

Stryker (NYSE:SYK) had its price target upped by Roth Mkm from $348.00 to $405.00 in a research report released on Wednesday, Benzinga reports. Roth Mkm currently has a buy rating on the medical technology company’s stock.

Several other brokerages have also issued reports on SYK. Royal Bank of Canada lifted their price target on Stryker from $360.00 to $386.00 and gave the stock an outperform rating in a research note on Monday, April 15th. Canaccord Genuity Group raised shares of Stryker from a hold rating to a buy rating and set a $360.00 target price on the stock in a report on Wednesday, January 31st. Evercore ISI boosted their price target on shares of Stryker from $340.00 to $370.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Canaccord Genuity Group upgraded Stryker from a hold rating to a buy rating and lifted their price objective for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. Finally, Piper Sandler raised their price target on Stryker from $375.00 to $380.00 and gave the stock an overweight rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Stryker has a consensus rating of Moderate Buy and a consensus target price of $365.94.

Stryker Stock Performance

NYSE:SYK opened at $328.45 on Wednesday. The stock has a market cap of $124.97 billion, a P/E ratio of 37.49, a PEG ratio of 2.63 and a beta of 0.91. The company has a quick ratio of 0.97, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $347.52 and its two-hundred day moving average price is $316.85. Stryker has a twelve month low of $249.98 and a twelve month high of $361.41.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. Stryker’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $2.14 earnings per share. As a group, equities analysts predict that Stryker will post 11.93 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insiders Place Their Bets

In other news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now directly owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Stryker by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock worth $8,379,967,000 after acquiring an additional 143,631 shares during the last quarter. Greenleaf Trust increased its stake in shares of Stryker by 0.6% in the first quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock worth $6,655,089,000 after purchasing an additional 108,080 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Stryker by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after purchasing an additional 642,178 shares during the period. FMR LLC lifted its stake in shares of Stryker by 2.5% during the 3rd quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock valued at $1,632,127,000 after buying an additional 144,208 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in Stryker by 4.4% in the 3rd quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after buying an additional 223,728 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Company Profile

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.