Stryker (NYSE:SYK) Price Target Raised to $383.00 at BTIG Research

Stryker (NYSE:SYK) had its price objective raised by BTIG Research from $374.00 to $383.00 in a report released on Monday morning, Benzinga reports. BTIG Research currently has a buy rating on the medical technology company’s stock.

A number of other research analysts have also commented on SYK. Morgan Stanley lifted their price objective on shares of Stryker from $345.00 to $350.00 and gave the company an equal weight rating in a research note on Monday, July 15th. UBS Group lifted their price objective on shares of Stryker from $351.00 to $366.00 and gave the company a neutral rating in a research note on Wednesday, July 31st. Piper Sandler restated an overweight rating and issued a $380.00 price objective on shares of Stryker in a research note on Tuesday, September 10th. Wolfe Research started coverage on shares of Stryker in a research note on Tuesday, September 10th. They issued an outperform rating and a $405.00 price objective on the stock. Finally, StockNews.com upgraded shares of Stryker from a hold rating to a buy rating in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $381.16.

Stryker Price Performance

Shares of SYK opened at $359.71 on Monday. Stryker has a twelve month low of $255.22 and a twelve month high of $374.63. The firm’s fifty day simple moving average is $352.72 and its 200-day simple moving average is $342.95. The firm has a market capitalization of $137.03 billion, a price-to-earnings ratio of 41.06, a PEG ratio of 2.73 and a beta of 0.91. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

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

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated Tuesday, August 6th. The shares were 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 in the company, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,068 shares of company stock worth $71,811,372. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

Institutional investors have recently modified their holdings of the company. Koshinski Asset Management Inc. acquired a new position in shares of Stryker in the first quarter valued at approximately $795,000. Envestnet Portfolio Solutions Inc. increased its position in Stryker by 43.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after purchasing an additional 5,565 shares during the last quarter. Norden Group LLC acquired a new position in Stryker during the first quarter worth approximately $4,027,000. International Assets Investment Management LLC acquired a new position in Stryker during the first quarter worth approximately $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in Stryker by 38.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock worth $7,084,000 after purchasing an additional 5,502 shares during the last quarter. Institutional investors and hedge funds 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.