Stryker’s (SYK) Overweight Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Stryker (NYSE:SYK) in a report issued on Tuesday morning, Benzinga reports. They currently have a $380.00 target price on the medical technology company’s stock.

Other analysts have also recently issued reports about the stock. Evercore ISI decreased their price objective on shares of Stryker from $370.00 to $365.00 and set an outperform rating on the stock in a research note on Tuesday, July 2nd. Needham & Company LLC upped their target price on shares of Stryker from $392.00 to $393.00 and gave the stock a buy rating in a research report on Thursday, August 1st. UBS Group upped their target price on shares of Stryker from $351.00 to $366.00 and gave the stock a neutral rating in a research report on Wednesday, July 31st. Royal Bank of Canada reiterated an outperform rating and set a $386.00 target price on shares of Stryker in a research report on Wednesday, July 31st. Finally, Wolfe Research began coverage on shares of Stryker in a research report on Tuesday. They set an outperform rating and a $405.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $378.58.

Stryker Stock Up 0.4 %

SYK opened at $367.79 on Tuesday. Stryker has a fifty-two week low of $249.98 and a fifty-two week high of $368.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The firm’s fifty day moving average price is $341.61 and its two-hundred day moving average price is $342.38. The company has a market capitalization of $140.11 billion, a P/E ratio of 41.99, a P/E/G ratio of 2.77 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.02. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.54 earnings per share. On average, analysts anticipate that Stryker will post 12 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.87%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insiders Place Their Bets

In other Stryker news, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the 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 sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The disclosure for this sale can be found here. Over the last three months, insiders have sold 210,600 shares of company stock worth $68,330,400. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Several large investors have recently made changes to their positions in SYK. Burkett Financial Services LLC bought a new position in Stryker in the fourth quarter valued at $25,000. Centennial Bank AR grew its position in Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares in the last quarter. DSM Capital Partners LLC bought a new position in Stryker in the fourth quarter valued at $34,000. Central Pacific Bank Trust Division bought a new position in Stryker in the first quarter valued at $39,000. Finally, Private Wealth Management Group LLC bought a new position in Stryker in the fourth quarter valued at $40,000. Institutional investors own 77.09% of the company’s stock.

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.