Stryker Co. (NYSE:SYK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Stryker Co. (NYSE:SYK) have been assigned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $378.58.

Several research analysts have recently issued reports on the company. Barclays lifted their price target on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Stifel Nicolaus reduced their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Piper Sandler reissued an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research note on Tuesday, September 10th. Needham & Company LLC lifted 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, The Goldman Sachs Group initiated coverage on Stryker in a report on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price on the stock.

Stryker Stock Performance

Shares of SYK opened at $364.97 on Friday. 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 $374.63. The company has a 50-day simple moving average of $344.61 and a 200-day simple moving average of $342.90. The company has a market capitalization of $139.08 billion, a PE ratio of 41.66, a P/E/G ratio of 2.87 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $2.54 earnings per share. Equities research analysts predict that Stryker will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.88%. Stryker’s dividend payout ratio is presently 36.53%.

Insider Activity at Stryker

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The disclosure for this sale can be found here. Over the last three months, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Stryker

Several institutional investors have recently bought and sold shares of the business. Global Assets Advisory LLC purchased a new position in Stryker in the first quarter valued at about $341,049,000. JPMorgan Chase & Co. raised its holdings in shares of Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after buying an additional 813,311 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Stryker by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after acquiring an additional 642,178 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in Stryker by 146.9% in the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after acquiring an additional 522,817 shares during the period. Finally, American Century Companies Inc. grew its position in Stryker by 287.6% in the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after acquiring an additional 375,166 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

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.