Stryker Co. (NYSE:SYK) Receives $340.45 Average Price Target from Analysts

Stryker Co. (NYSE:SYK) has been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $340.67.

A number of brokerages have issued reports on SYK. TD Cowen lifted their price objective on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective for the company in a report on Wednesday, January 31st. Canaccord Genuity Group raised 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, Royal Bank of Canada lifted their price objective on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Monday, April 15th.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the sale, the director now owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Stryker news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the transaction, the director now owns 14,242 shares in the company, valued at approximately $4,856,522. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction dated 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 owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 212,109 shares of company stock valued at $72,845,768. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Stryker by 0.5% during the third 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 period. Price T Rowe Associates Inc. MD boosted its stake in Stryker by 5.4% in the fourth 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 acquiring an additional 642,178 shares in the last quarter. FMR LLC boosted its stake in Stryker by 2.5% in the third quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock valued at $1,632,127,000 after acquiring an additional 144,208 shares in the last quarter. Morgan Stanley boosted its stake in shares of Stryker by 4.4% during the third 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. Finally, Franklin Resources Inc. boosted its stake in shares of Stryker by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 4,686,440 shares of the medical technology company’s stock worth $1,403,401,000 after buying an additional 29,209 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

NYSE:SYK opened at $337.09 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The stock has a market cap of $128.25 billion, a P/E ratio of 40.86, a PEG ratio of 2.70 and a beta of 0.89. The business’s 50-day moving average price is $349.16 and its two-hundred day moving average price is $314.40. Stryker has a twelve month low of $249.98 and a twelve month high of $361.41.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.60 billion. During the same period last year, the company earned $3.00 EPS. Stryker’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, equities analysts predict that Stryker will post 11.86 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.95%. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

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.