Stryker (NYSE:SYK) Given New $360.00 Price Target at BTIG Research

Stryker (NYSE:SYK) had its price objective reduced by BTIG Research from $372.00 to $360.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the medical technology company’s stock.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus lowered their price target on Stryker from $375.00 to $365.00 and set a buy rating on the stock in a research report on Wednesday. Evercore ISI lowered their price target on Stryker from $370.00 to $365.00 and set an outperform rating on the stock in a research report on Tuesday, July 2nd. Roth Mkm boosted their price target on Stryker from $348.00 to $405.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. Citigroup upped their target price on Stryker from $362.00 to $406.00 and gave the company a buy rating in a research report on Wednesday, April 3rd. Finally, UBS Group upped their target price on Stryker from $351.00 to $366.00 and gave the company a neutral rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker has a consensus rating of Moderate Buy and an average target price of $373.11.

Stryker Price Performance

NYSE:SYK opened at $331.56 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 1.68. The stock’s 50-day simple moving average is $338.87 and its 200 day simple moving average is $339.79. The company has a market cap of $126.35 billion, a P/E ratio of 37.85, a P/E/G ratio of 2.57 and a beta of 0.89. Stryker has a 52-week low of $249.98 and a 52-week high of $361.41.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.54 earnings per share. As a group, sell-side analysts forecast that Stryker will post 11.99 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.97%. The ex-dividend date was Friday, June 28th. Stryker’s payout ratio is presently 36.53%.

Insiders Place Their Bets

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Kornitzer Capital Management Inc. KS lifted its stake in shares of Stryker by 2.3% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 7,932 shares of the medical technology company’s stock valued at $2,699,000 after acquiring an additional 179 shares during the last quarter. First Business Financial Services Inc. lifted its stake in shares of Stryker by 17.5% in the 2nd quarter. First Business Financial Services Inc. now owns 7,703 shares of the medical technology company’s stock valued at $2,621,000 after acquiring an additional 1,145 shares during the last quarter. SouthState Corp lifted its stake in shares of Stryker by 14.1% in the 2nd quarter. SouthState Corp now owns 15,017 shares of the medical technology company’s stock valued at $5,110,000 after acquiring an additional 1,855 shares during the last quarter. Journey Advisory Group LLC lifted its stake in shares of Stryker by 3.9% in the 2nd quarter. Journey Advisory Group LLC now owns 3,235 shares of the medical technology company’s stock valued at $1,101,000 after acquiring an additional 122 shares during the last quarter. Finally, Foster & Motley Inc. lifted its stake in shares of Stryker by 250.0% in the 2nd quarter. Foster & Motley Inc. now owns 2,254 shares of the medical technology company’s stock valued at $767,000 after acquiring an additional 1,610 shares during the last quarter. 77.09% of the stock is currently 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.