Citigroup Cuts Stryker (NYSE:SYK) Price Target to $360.00

Stryker (NYSE:SYK) had its target price lowered by Citigroup from $399.00 to $360.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the medical technology company’s stock.

A number of other brokerages also recently issued reports on SYK. Argus set a $370.00 price target on shares of Stryker in a report on Thursday, July 9th. Wolfe Research cut shares of Stryker from an “outperform” rating to a “peer perform” rating in a research note on Thursday, August 13th. Royal Bank Of Canada decreased their target price on shares of Stryker from $435.00 to $420.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Piper Sandler lowered their target price on shares of Stryker from $420.00 to $390.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $317.00 price target on shares of Stryker in a report on Wednesday. Eighteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average price target of $380.40.

Stryker Price Performance

Shares of NYSE SYK opened at $275.28 on Thursday. The stock has a market cap of $105.59 billion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 1.73 and a beta of 0.76. Stryker has a fifty-two week low of $267.00 and a fifty-two week high of $392.55. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.33 and a current ratio of 2.16. The stock has a fifty day moving average of $324.62 and a 200-day moving average of $326.48.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 30th. The medical technology company reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.20. Stryker had a return on equity of 23.63% and a net margin of 14.43%.The business had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.58 billion. During the same quarter in the prior year, the firm posted $3.13 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Equities research analysts anticipate that Stryker will post 15.02 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, September 30th. Stryker’s dividend payout ratio is currently 36.48%.

Insider Buying and Selling at Stryker

In related news, insider Dylan Crotty sold 441 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $328.61, for a total transaction of $144,917.01. Following the transaction, the insider directly owned 6,102 shares of the company’s stock, valued at approximately $2,005,178.22. This trade represents a 6.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Debra King sold 826 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total value of $277,783.80. Following the completion of the sale, the insider directly owned 6,210 shares of the company’s stock, valued at approximately $2,088,423. This represents a 11.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 351,267 shares of company stock worth $118,197,701 over the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Stryker

A number of hedge funds have recently made changes to their positions in the business. Gables Capital Management Inc. purchased a new position in Stryker in the 2nd quarter worth $25,000. Kilter Group LLC purchased a new position in shares of Stryker in the second quarter worth about $25,000. Highland Investment Advisors LLC purchased a new position in shares of Stryker in the second quarter worth about $25,000. Cornerstone Financial Management LLC lifted its stake in shares of Stryker by 66.0% in the 2nd quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock valued at $25,000 after acquiring an additional 31 shares during the last quarter. Finally, Godfrey Financial Associates Inc. purchased a new stake in Stryker during the 4th quarter valued at about $26,000. 77.09% of the stock is currently owned by institutional investors.

About Stryker

Stryker Corporation is a global medical technology company headquartered in Portage, Michigan. The company develops and manufactures products used by hospitals, physicians and other healthcare providers across a range of medical specialties.

Stryker’s principal businesses include orthopaedics, medical and surgical equipment, and neurovascular products. Its offerings include joint replacement and trauma implants, spinal devices, surgical instruments, operating-room equipment, endoscopy systems, surgical navigation technologies, emergency-care products and devices used to treat neurovascular conditions such as stroke.

Founded in 1941 by Dr.