Stryker’s (SYK) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Stryker (NYSE:SYK) in a report released on Tuesday,Benzinga reports. Royal Bank of Canada currently has a $425.00 price objective on the medical technology company’s stock.

Several other brokerages also recently weighed in on SYK. Robert W. Baird increased their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. UBS Group raised their price objective 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. Wolfe Research initiated coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price on the stock. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, Barclays boosted their price objective on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Stock Up 2.5 %

Shares of Stryker stock opened at $364.19 on Tuesday. Stryker has a 12-month low of $298.52 and a 12-month high of $398.20. The stock has a market capitalization of $138.84 billion, a P/E ratio of 39.03, a PEG ratio of 2.82 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average price of $375.42 and a two-hundred day moving average price of $357.51.

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 analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the business posted $2.46 EPS. Stryker’s revenue was up 11.9% compared to the same quarter last year. Equities analysts expect that Stryker will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.92%. Stryker’s dividend payout ratio is presently 36.01%.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Stryker

A number of hedge funds and other institutional investors have recently bought and sold shares of SYK. Avestar Capital LLC grew its holdings in shares of Stryker by 1.1% during the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after purchasing an additional 31 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its position in Stryker by 1.5% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock worth $793,000 after buying an additional 32 shares in the last quarter. Grimes & Company Inc. increased its position in Stryker by 0.4% in the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock valued at $2,977,000 after acquiring an additional 33 shares in the last quarter. Sachetta LLC raised its stake in shares of Stryker by 16.3% in the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after acquiring an additional 34 shares during the last quarter. Finally, Moran Wealth Management LLC lifted its position in shares of Stryker by 0.4% during the third quarter. Moran Wealth Management LLC now owns 9,047 shares of the medical technology company’s stock worth $3,268,000 after purchasing an additional 34 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

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.