Stryker (NYSE:SYK) Rating Increased to Buy at Needham & Company LLC

Needham & Company LLC upgraded shares of Stryker (NYSE:SYK) from a hold rating to a buy rating in a report issued on Wednesday, Marketbeat reports. The firm currently has $392.00 price objective on the medical technology company’s stock.

SYK has been the topic of a number of other research reports. Stifel Nicolaus upped their price target on Stryker from $350.00 to $375.00 and gave the company a buy rating in a research report on Wednesday, May 1st. BTIG Research raised their price target on Stryker from $366.00 to $369.00 and gave the company a buy rating in a report on Wednesday, May 1st. StockNews.com upgraded Stryker from a hold rating to a buy rating in a research report on Tuesday, January 23rd. UBS Group increased their price objective on Stryker from $339.00 to $351.00 and gave the company a neutral rating in a research report on Wednesday, May 1st. Finally, Truist Financial raised their price target on Stryker from $330.00 to $345.00 and gave the stock a hold rating in a research report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $367.32.

Stryker Trading Up 1.6 %

Shares of Stryker stock opened at $335.54 on Wednesday. The company has a market capitalization of $127.82 billion, a P/E ratio of 38.30, a price-to-earnings-growth ratio of 2.60 and a beta of 0.91. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $339.85 and a 200 day simple moving average of $323.83. Stryker has a 12-month low of $249.98 and a 12-month high of $361.41.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the prior year, the company earned $2.14 EPS. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, sell-side analysts anticipate that Stryker will post 11.95 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Friday, June 28th. Stryker’s payout ratio is 36.53%.

Insiders Place Their Bets

In related news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Several hedge funds have recently bought and sold shares of SYK. Burkett Financial Services LLC purchased a new position in shares of Stryker in the fourth quarter valued at about $25,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 61 shares in the last quarter. Rogco LP purchased a new position in shares of Stryker in the fourth quarter valued at about $30,000. DSM Capital Partners LLC purchased a new stake in shares of Stryker in the fourth quarter worth about $34,000. Finally, HBC Financial Services PLLC purchased a new stake in shares of Stryker in the fourth quarter worth about $37,000. 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.