Stryker (NYSE:SYK) Lifted to Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Stryker (NYSE:SYKFree Report) from a hold rating to a buy rating in a research report report published on Wednesday, Benzinga reports. Canaccord Genuity Group currently has $360.00 target price on the medical technology company’s stock.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada boosted their price target on shares of Stryker from $315.00 to $345.00 and gave the stock an outperform rating in a research note on Friday, January 12th. Morgan Stanley lifted their price objective on shares of Stryker from $300.00 to $320.00 and gave the stock an equal weight rating in a research report on Monday, December 4th. StockNews.com raised shares of Stryker from a hold rating to a buy rating in a research report on Tuesday, January 23rd. Roth Mkm reaffirmed a buy rating and set a $345.00 price objective on shares of Stryker in a research report on Thursday, November 9th. Finally, UBS Group lifted their price objective on shares of Stryker from $289.00 to $297.00 and gave the stock a neutral rating in a research report on Thursday, November 9th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $331.52.

View Our Latest Report on SYK

Stryker Stock Performance

NYSE:SYK opened at $342.05 on Wednesday. The company has a fifty day simple moving average of $302.95 and a two-hundred day simple moving average of $287.78. The company has a market cap of $129.94 billion, a price-to-earnings ratio of 41.46, a price-to-earnings-growth ratio of 2.77 and a beta of 0.90. The company has a quick ratio of 0.83, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. Stryker has a 52 week low of $249.98 and a 52 week high of $342.88.

Stryker (NYSE:SYKGet Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping the consensus estimate of $3.27 by $0.19. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.00 earnings per share. As a group, equities analysts anticipate that Stryker will post 11.87 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.94%. This is a boost from Stryker’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, December 28th. Stryker’s dividend payout ratio is presently 38.79%.

Insider Activity

In other news, Director Srikant M. Datar sold 750 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were 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 of the company’s stock, valued at $1,528,722.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Srikant M. Datar sold 750 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $287.57, for a total transaction of $215,677.50. Following the transaction, the director now directly owns 5,316 shares in the company, valued at $1,528,722.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO William E. Berry, Jr. sold 573 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $292.28, for a total transaction of $167,476.44. Following the transaction, the chief accounting officer now owns 2,909 shares in the company, valued at $850,242.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,306 shares of company stock valued at $16,791,134. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in Stryker during the fourth quarter worth about $776,333,000. Moneta Group Investment Advisors LLC grew its position in Stryker by 109,726.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,139,948 shares of the medical technology company’s stock worth $767,686,000 after buying an additional 3,137,089 shares during the period. Ontario Teachers Pension Plan Board grew its position in Stryker by 87,902.2% during the first quarter. Ontario Teachers Pension Plan Board now owns 2,077,732 shares of the medical technology company’s stock worth $555,482,000 after buying an additional 2,075,371 shares during the period. T. Rowe Price Investment Management Inc. acquired a new position in Stryker during the fourth quarter worth about $312,539,000. Finally, BlackRock Inc. grew its position in Stryker by 4.8% during the second quarter. BlackRock Inc. now owns 25,862,485 shares of the medical technology company’s stock worth $7,890,386,000 after buying an additional 1,188,957 shares during the period. 76.24% of the stock is currently owned by institutional investors and hedge funds.

Stryker Company Profile

(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.

Further Reading

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.