Stryker Co. (NYSE:SYK) Given Average Recommendation of “Moderate Buy” by Analysts

Stryker Co. (NYSE:SYK) has received a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $405.80.

SYK has been the topic of several research analyst reports. Truist Financial boosted their price target on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Citigroup boosted their price objective on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. UBS Group increased their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird lifted their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th.

Stryker Trading Down 1.4 %

Shares of Stryker stock opened at $390.31 on Thursday. 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 firm has a market cap of $148.79 billion, a price-to-earnings ratio of 41.83, a price-to-earnings-growth ratio of 2.63 and a beta of 0.95. Stryker has a 52-week low of $307.23 and a 52-week high of $398.20. The company’s 50-day simple moving average is $375.78 and its 200-day simple moving average is $359.94.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping 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 analysts’ expectations of $5.37 billion. During the same period in the prior year, the company posted $2.46 EPS. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities research analysts anticipate 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 paid a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. Stryker’s dividend payout ratio is 36.01%.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents 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. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Stryker

Several institutional investors and hedge funds have recently bought and sold shares of SYK. AE Wealth Management LLC lifted its holdings in Stryker by 101.8% in the second quarter. AE Wealth Management LLC now owns 3,414 shares of the medical technology company’s stock worth $1,162,000 after acquiring an additional 1,722 shares during the last quarter. Public Sector Pension Investment Board grew its stake in Stryker by 79.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 12,579 shares of the medical technology company’s stock worth $4,280,000 after buying an additional 5,553 shares during the last quarter. Evergreen Capital Management LLC increased its position in Stryker by 5.2% in the second quarter. Evergreen Capital Management LLC now owns 4,259 shares of the medical technology company’s stock worth $1,453,000 after buying an additional 212 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Stryker by 60.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 65,552 shares of the medical technology company’s stock valued at $22,304,000 after buying an additional 24,589 shares during the last quarter. Finally, Insigneo Advisory Services LLC boosted its holdings in shares of Stryker by 31.9% during the second quarter. Insigneo Advisory Services LLC now owns 2,150 shares of the medical technology company’s stock valued at $679,000 after acquiring an additional 520 shares during the period. Institutional investors and hedge funds 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.