Stryker (NYSE:SYK) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Stryker (NYSE:SYKFree Report) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

A number of other brokerages have also recently weighed in on SYK. Citigroup dropped their price target on Stryker from $342.00 to $330.00 and set a buy rating on the stock in a research note on Monday, October 2nd. UBS Group raised their price objective on Stryker from $289.00 to $297.00 and gave the stock a neutral rating in a research report on Thursday, November 9th. Roth Mkm restated a buy rating and set a $345.00 price objective on shares of Stryker in a research report on Thursday, November 9th. Morgan Stanley raised their price objective on Stryker from $300.00 to $320.00 and gave the stock an equal weight rating in a research report on Monday, December 4th. Finally, Truist Financial raised their price objective on Stryker from $300.00 to $320.00 and gave the stock a hold rating in a research report on Friday, December 22nd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Stryker has a consensus rating of Moderate Buy and an average target price of $319.45.

Read Our Latest Stock Report on Stryker

Stryker Trading Down 0.2 %

NYSE:SYK opened at $311.16 on Tuesday. Stryker has a 1 year low of $248.96 and a 1 year high of $317.82. The stock has a market cap of $118.21 billion, a price-to-earnings ratio of 46.17, a PEG ratio of 2.61 and a beta of 0.92. The business has a fifty day moving average of $298.80 and a 200-day moving average of $286.60. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.83 and a current ratio of 1.48.

Stryker (NYSE:SYKGet Free Report) last released its quarterly earnings results on Thursday, November 2nd. The medical technology company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.02. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.87 billion. Stryker had a return on equity of 22.62% and a net margin of 13.00%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.12 earnings per share. Equities analysts predict that Stryker will post 10.41 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $3.20 dividend on an annualized basis and a yield of 1.03%. This is a positive change from Stryker’s previous quarterly dividend of $0.75. Stryker’s payout ratio is currently 47.48%.

Insider Activity

In related news, Director Srikant M. Datar sold 750 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $287.57, for a total value of $215,677.50. Following the completion of the sale, the director now owns 5,316 shares in the company, valued at $1,528,722.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Stryker news, Director Srikant M. Datar sold 750 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $287.57, for a total value of $215,677.50. Following the completion of the sale, the director now directly owns 5,316 shares in the company, valued at $1,528,722.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin Lobo sold 56,483 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $287.91, for a total value of $16,262,020.53. Following the completion of the sale, the chief executive officer now owns 81,034 shares of the company’s stock, valued at $23,330,498.94. The disclosure for this sale can be found here. Insiders have sold 58,306 shares of company stock valued at $16,791,134 over the last 90 days. 5.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Stryker

Several large investors have recently modified their holdings of SYK. Freedom Wealth Alliance LLC acquired a new position in shares of Stryker during the fourth quarter worth about $26,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Stryker by 203.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 61 shares during the last quarter. Quarry LP acquired a new position in Stryker during the first quarter valued at approximately $27,000. Rise Advisors LLC boosted its position in Stryker by 692.9% during the third quarter. Rise Advisors LLC now owns 111 shares of the medical technology company’s stock valued at $30,000 after purchasing an additional 97 shares during the last quarter. Finally, Bay Harbor Wealth Management LLC acquired a new position in Stryker during the second quarter valued at approximately $31,000. 76.24% of the stock is currently owned by institutional investors.

About Stryker

(Get Free Report)

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

Read More

Analyst Recommendations for Stryker (NYSE:SYK)

Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.