Truist Financial Cuts Stryker (NYSE:SYK) Price Target to $392.00

Stryker (NYSE:SYK) had its price objective trimmed by Truist Financial from $400.00 to $392.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a hold rating on the medical technology company’s stock.

A number of other equities analysts also recently commented on SYK. Citigroup reduced their price objective on shares of Stryker from $455.00 to $420.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. Wells Fargo & Company upped their price objective on Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Evercore ISI cut their target price on Stryker from $410.00 to $405.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Redburn Partners set a $420.00 target price on shares of Stryker in a report on Thursday, September 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $448.00 price target on shares of Stryker in a report on Friday, November 14th. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average price target of $431.84.

Stryker Stock Performance

Shares of Stryker stock opened at $355.21 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68. The stock’s fifty day moving average price is $365.26 and its 200-day moving average price is $377.49. The firm has a market cap of $135.84 billion, a P/E ratio of 46.68, a P/E/G ratio of 2.51 and a beta of 0.89. Stryker has a 12 month low of $329.16 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, October 30th. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.06. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The company had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same period in the prior year, the business earned $2.87 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. On average, equities research analysts expect that Stryker will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. This is an increase from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, December 31st. Stryker’s dividend payout ratio is currently 44.15%.

Insider Buying and Selling

In other news, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction on Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the completion of the sale, the chief accounting officer directly owned 2,833 shares in the company, valued at approximately $1,035,433.17. The trade was a 40.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 276,173 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the sale, the director directly owned 2,702,108 shares in the company, valued at $954,600,714.24. This trade represents a 9.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 522,118 shares of company stock worth $185,381,932 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Stryker by 0.8% in the third quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company’s stock worth $12,485,012,000 after purchasing an additional 272,828 shares during the last quarter. State Street Corp raised its position in Stryker by 1.0% during the 2nd quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock worth $5,929,765,000 after buying an additional 150,204 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Stryker by 9.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock valued at $4,515,847,000 after acquiring an additional 1,021,496 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Stryker by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock valued at $2,910,445,000 after acquiring an additional 79,654 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Stryker by 13.3% in the third quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company’s stock worth $2,342,987,000 after acquiring an additional 741,542 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.