Brokerages Set Stryker Co. (NYSE:SYK) Target Price at $405.80

Stryker Co. (NYSE:SYK) has been assigned an average rating of “Moderate Buy” from the twenty ratings firms that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $405.80.

Several analysts have weighed in on SYK shares. Needham & Company LLC lifted their price objective on Stryker from $409.00 to $442.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Wolfe Research assumed coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. BTIG Research increased their price objective on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, UBS Group increased their price target on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp boosted its stake in shares of Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after acquiring an additional 316,404 shares during the last quarter. FMR LLC raised its holdings in Stryker by 3.0% in the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares during the period. Geode Capital Management LLC lifted its position in Stryker by 2.5% during the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after purchasing an additional 165,490 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Stryker by 2.9% during the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after purchasing an additional 66,482 shares during the period. Finally, Parnassus Investments LLC purchased a new stake in Stryker in the third quarter worth about $762,798,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 0.6 %

NYSE SYK opened at $360.05 on Friday. The business’s 50-day moving average is $375.15 and its 200 day moving average is $356.92. The stock has a market capitalization of $137.26 billion, a PE ratio of 38.59, a PEG ratio of 2.82 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker has a 1 year low of $292.43 and a 1 year high of $398.20.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the previous year, the firm earned $2.46 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. Sell-side analysts forecast that Stryker will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The business 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. This represents a $3.36 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is 36.01%.

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.