Truist Financial Boosts Stryker (NYSE:SYK) Price Target to $409.00

Stryker (NYSE:SYK) had its price objective raised by Truist Financial from $380.00 to $409.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the medical technology company’s stock.

SYK has been the topic of a number of other research reports. Barclays boosted their target price on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Evercore ISI boosted their price objective on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Needham & Company LLC boosted their price target on shares of Stryker from $409.00 to $442.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Citigroup upped their price target on shares of Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Trading Down 3.1 %

Shares of SYK stock opened at $359.17 on Wednesday. Stryker has a 1 year low of $288.15 and a 1 year high of $398.20. The firm has a market capitalization of $136.92 billion, a PE ratio of 38.50, a price-to-earnings-growth ratio of 2.82 and a beta of 0.94. The stock has a fifty day moving average of $374.41 and a two-hundred day moving average of $355.59. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.46 earnings per share. As a group, research analysts expect that Stryker will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.94%. This is an increase from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio is presently 36.01%.

Insider Transactions at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Stryker

Hedge funds have recently modified their holdings of the business. GYL Financial Synergies LLC acquired a new stake in Stryker in the 2nd quarter worth $217,000. &PARTNERS increased its stake in Stryker by 119.2% during the second quarter. &PARTNERS now owns 11,056 shares of the medical technology company’s stock valued at $3,762,000 after acquiring an additional 6,013 shares during the period. LVZ Inc. lifted its position in shares of Stryker by 23.9% in the 2nd quarter. LVZ Inc. now owns 3,934 shares of the medical technology company’s stock worth $1,339,000 after acquiring an additional 759 shares during the period. Cornerstone Wealth Group LLC grew its holdings in shares of Stryker by 5.4% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 2,410 shares of the medical technology company’s stock worth $820,000 after purchasing an additional 123 shares in the last quarter. Finally, Catalina Capital Group LLC raised its stake in shares of Stryker by 8.4% in the second quarter. Catalina Capital Group LLC now owns 1,656 shares of the medical technology company’s stock valued at $563,000 after purchasing an additional 129 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Company Profile

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.