Stryker Co. (NYSE:SYK) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Stryker Co. (NYSE:SYK) have received an average recommendation of “Moderate Buy” from the nineteen research firms that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $373.11.

Several brokerages have recently issued reports on SYK. Barclays upped their price target on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. TD Cowen upped their price target on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Roth Mkm upped their price target on Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Truist Financial cut their price target on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Finally, Evercore ISI cut their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd.

Insider Activity

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction that occurred 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 of the company’s stock, valued at approximately $949,716. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its stake in Stryker by 1.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 8,820 shares of the medical technology company’s stock worth $2,641,000 after acquiring an additional 103 shares during the period. Pinnacle Financial Partners Inc increased its stake in Stryker by 6.4% during the 4th quarter. Pinnacle Financial Partners Inc now owns 6,258 shares of the medical technology company’s stock worth $1,874,000 after acquiring an additional 375 shares during the period. Stonegate Investment Group LLC increased its stake in Stryker by 12.3% during the 4th quarter. Stonegate Investment Group LLC now owns 1,944 shares of the medical technology company’s stock worth $582,000 after acquiring an additional 213 shares during the period. DAVENPORT & Co LLC increased its stake in Stryker by 3.3% during the 4th quarter. DAVENPORT & Co LLC now owns 13,645 shares of the medical technology company’s stock worth $4,086,000 after acquiring an additional 431 shares during the period. Finally, UMB Bank n.a. increased its stake in Stryker by 1.0% during the 4th quarter. UMB Bank n.a. now owns 7,844 shares of the medical technology company’s stock worth $2,349,000 after acquiring an additional 77 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

Stryker stock opened at $315.94 on Thursday. 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 firm has a market cap of $120.40 billion, a P/E ratio of 36.07, a P/E/G ratio of 2.56 and a beta of 0.89. The business’s fifty day moving average is $338.87 and its two-hundred day moving average is $339.97. Stryker has a 52 week low of $249.98 and a 52 week high of $361.41.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.54 earnings per share. Equities research analysts forecast that Stryker will post 11.99 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were given a $0.80 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.01%. Stryker’s payout ratio is 36.53%.

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.