Stryker (NYSE:SYK) Price Target Raised to $380.00 at Evercore ISI

Stryker (NYSE:SYK) had its price objective boosted by Evercore ISI from $365.00 to $380.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the medical technology company’s stock.

SYK has been the subject of several other research reports. Needham & Company LLC raised their price target on Stryker from $392.00 to $393.00 and gave the stock a buy rating in a report on Thursday, August 1st. Truist Financial dropped their target price on shares of Stryker from $364.00 to $345.00 and set a hold rating on the stock in a research report on Thursday, August 1st. Royal Bank of Canada reiterated an outperform rating and set a $386.00 price objective on shares of Stryker in a research note on Wednesday, July 31st. StockNews.com lowered Stryker from a buy rating to a hold rating in a research note on Monday, September 16th. Finally, Morgan Stanley boosted their price target on Stryker from $345.00 to $350.00 and gave the company an equal weight rating in a research note on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $379.37.

Stryker Trading Down 1.1 %

NYSE SYK opened at $357.36 on Tuesday. Stryker has a 52 week low of $249.98 and a 52 week high of $374.63. The company has a 50 day moving average price of $348.60 and a 200 day moving average price of $343.04. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The firm has a market cap of $136.14 billion, a PE ratio of 40.79, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.54 earnings per share. As a group, sell-side analysts forecast that Stryker will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Buying and Selling at Stryker

In other news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,068 shares of company stock valued at $71,811,372. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Several institutional investors have recently modified their holdings of SYK. Centennial Bank AR boosted its holdings in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Stryker during the first quarter worth approximately $39,000. Accent Capital Management LLC acquired a new position in Stryker in the 4th quarter valued at $60,000. Sachetta LLC lifted its holdings in Stryker by 16.3% in the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after purchasing an additional 34 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its stake in Stryker by 17.9% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock worth $94,000 after purchasing an additional 40 shares during the last quarter. 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.