Stryker (NYSE:SYK) Given New $374.00 Price Target at BTIG Research

Stryker (NYSE:SYK) had its target price upped by BTIG Research from $360.00 to $374.00 in a research note released on Wednesday, Benzinga reports. BTIG Research currently has a buy rating on the medical technology company’s stock.

Other analysts have also recently issued reports about the company. Barclays increased their price objective on Stryker from $374.00 to $402.00 and gave the stock an overweight rating in a research report on Thursday, August 1st. Wells Fargo & Company increased their price objective on Stryker from $364.00 to $381.00 and gave the stock an overweight rating in a research report on Wednesday, May 1st. Royal Bank of Canada reaffirmed an outperform rating and set a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. Needham & Company LLC increased their price objective on Stryker from $392.00 to $393.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Finally, Evercore ISI reduced their price target on Stryker from $370.00 to $365.00 and set an outperform rating for the company in a report on Tuesday, July 2nd. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $373.84.

Stryker Trading Down 0.7 %

NYSE:SYK opened at $356.15 on Wednesday. The stock’s 50 day moving average price is $336.29 and its 200 day moving average price is $341.21. The company has a market capitalization of $135.72 billion, a PE ratio of 40.66, a P/E/G ratio of 2.74 and a beta of 0.89. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. Stryker has a 52-week low of $249.98 and a 52-week high of $361.41.

Stryker (NYSE:SYK) last released 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. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the business posted $2.54 EPS. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, research analysts anticipate that Stryker will post 12 EPS for the current year.

Stryker Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.90%. Stryker’s dividend payout ratio is presently 36.53%.

Insider Buying and Selling

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 210,600 shares of company stock valued at $68,330,400. 5.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Stryker

Several hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Stryker in the fourth quarter valued at $1,260,562,000. Global Assets Advisory LLC purchased a new stake in shares of Stryker in the first quarter valued at $341,049,000. JPMorgan Chase & Co. grew its position in shares of Stryker by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after purchasing an additional 813,311 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after purchasing an additional 642,178 shares during the period. Finally, 1832 Asset Management L.P. grew its position in shares of Stryker by 146.9% in the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after purchasing an additional 522,817 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

About Stryker

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.