Stryker (NYSE:SYK) Given New $418.00 Price Target at Barclays

Stryker (NYSE:SYK) had its price objective lifted by Barclays from $402.00 to $418.00 in a research note published on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the medical technology company’s stock.

Several other research firms also recently weighed in on SYK. Evercore ISI lifted their price target on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Robert W. Baird increased their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday. Canaccord Genuity Group upped their price objective on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Stifel Nicolaus decreased their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $393.65.

Stryker Stock Up 2.3 %

Shares of NYSE:SYK traded up $8.15 during midday trading on Thursday, reaching $364.43. The company’s stock had a trading volume of 288,981 shares, compared to its average volume of 1,251,613. Stryker has a 12-month low of $266.93 and a 12-month high of $374.63. The firm has a market capitalization of $138.88 billion, a P/E ratio of 38.19, a PEG ratio of 2.79 and a beta of 0.91. The firm has a 50 day moving average of $359.90 and a 200-day moving average of $344.06. The company has a quick ratio of 0.95, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the company posted $2.46 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, research analysts anticipate that Stryker will post 12.05 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a $0.80 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.88%. Stryker’s payout ratio is 34.30%.

Insider Transactions at Stryker

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 200,068 shares of company stock valued at $65,151,372 in the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Stryker

Institutional investors have recently made changes to their positions in the company. Centennial Bank AR raised its holdings in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of Stryker during the 1st quarter worth approximately $39,000. HBW Advisory Services LLC acquired a new position in Stryker during the 3rd quarter worth about $42,000. Hara Capital LLC acquired a new position in Stryker in the 3rd quarter valued at about $42,000. Finally, Grove Bank & Trust lifted its position in shares of Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares in the last quarter. Hedge funds and other 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.