Stryker (NYSE:SYK) Upgraded at StockNews.com

StockNews.com upgraded shares of Stryker (NYSE:SYK) from a hold rating to a buy rating in a research report released on Wednesday.

A number of other research firms have also recently commented on SYK. Truist Financial increased their price target on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Barclays raised their price objective on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Canaccord Genuity Group lifted their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, Citigroup raised their price objective on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $404.35.

Stryker Price Performance

SYK opened at $374.75 on Wednesday. Stryker has a 12-month low of $285.79 and a 12-month high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The business’s fifty day simple moving average is $372.88 and its 200-day simple moving average is $354.65. The company has a market capitalization of $142.86 billion, a price-to-earnings ratio of 40.19, a PEG ratio of 2.84 and a beta of 0.94.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter last year, the company earned $2.46 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities research analysts anticipate that Stryker will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.90%. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is currently 34.30%.

Insider Buying and Selling at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The trade was a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Dunhill Financial LLC increased its holdings in shares of Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the last quarter. Centennial Bank AR grew its stake in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in Stryker during the 3rd quarter worth approximately $36,000. Hara Capital LLC acquired a new stake in Stryker during the 3rd quarter worth approximately $42,000. Finally, HBW Advisory Services LLC acquired a new stake in Stryker during the 3rd quarter worth approximately $42,000. 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.