Stryker (NYSE:SYK) Hits New 52-Week High at $250.05


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Shares of Stryker Co. (NYSE:SYK) reached a new 52-week high during trading on Thursday . The stock traded as high as $250.05 and last traded at $249.60, with a volume of 7380 shares trading hands. The stock had previously closed at $247.44.

SYK has been the subject of several recent research reports. Guggenheim began coverage on shares of Stryker in a research note on Monday, January 4th. They set a “neutral” rating for the company. JPMorgan Chase & Co. boosted their price target on shares of Stryker from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, March 2nd. Needham & Company LLC restated a “hold” rating on shares of Stryker in a report on Thursday, January 28th. Raymond James boosted their price target on shares of Stryker from $240.00 to $255.00 and gave the company an “outperform” rating in a report on Thursday, January 28th. Finally, Truist boosted their price target on shares of Stryker from $210.00 to $245.00 in a report on Wednesday, January 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $232.74.

The company’s 50 day moving average price is $240.61 and its 200 day moving average price is $231.99. The company has a market cap of $93.97 billion, a price-to-earnings ratio of 54.14, a price-to-earnings-growth ratio of 2.79 and a beta of 0.87. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.15 and a current ratio of 2.89.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 26th. The medical technology company reported $2.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.55 by $0.26. Stryker had a net margin of 12.35% and a return on equity of 20.94%. The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the prior year, the business posted $2.49 EPS. Stryker’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities research analysts forecast that Stryker Co. will post 7.18 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Wednesday, March 31st will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, March 30th. This represents a $2.52 annualized dividend and a dividend yield of 1.01%. Stryker’s dividend payout ratio (DPR) is 30.51%.

In other news, CFO Glenn S. Boehnlein sold 2,000 shares of the stock in a transaction on Monday, March 1st. The shares were sold at an average price of $246.01, for a total transaction of $492,020.00. Following the transaction, the chief financial officer now owns 12,321 shares in the company, valued at approximately $3,031,089.21. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 6.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SYK. Norges Bank bought a new stake in shares of Stryker during the 4th quarter worth $811,698,000. FMR LLC boosted its holdings in shares of Stryker by 246.1% during the 4th quarter. FMR LLC now owns 4,189,778 shares of the medical technology company’s stock worth $1,026,663,000 after buying an additional 2,979,131 shares during the period. FIL Ltd boosted its holdings in shares of Stryker by 98.9% during the 4th quarter. FIL Ltd now owns 832,585 shares of the medical technology company’s stock worth $204,017,000 after buying an additional 413,950 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Stryker by 1.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,889,733 shares of the medical technology company’s stock worth $7,318,132,000 after buying an additional 364,668 shares during the period. Finally, Fundsmith LLP boosted its holdings in shares of Stryker by 5.7% during the 4th quarter. Fundsmith LLP now owns 6,634,893 shares of the medical technology company’s stock worth $1,625,814,000 after buying an additional 357,755 shares during the period. 71.46% of the stock is owned by institutional investors and hedge funds.

About Stryker (NYSE:SYK)

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical device products that are used in various medical specialties.

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