Stryker (NYSE:SYK) Reaches New 52-Week High at $364.64

Shares of Stryker Co. (NYSE:SYK) hit a new 52-week high on Monday . The stock traded as high as $364.64 and last traded at $364.51, with a volume of 446139 shares trading hands. The stock had previously closed at $358.92.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Evercore ISI decreased their price target on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Stifel Nicolaus reduced their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Truist Financial dropped their target price on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Finally, The Goldman Sachs Group began coverage on shares of Stryker in a report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price objective for the company. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $378.58.

Stryker Stock Up 0.4 %

The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The stock has a market cap of $139.61 billion, a P/E ratio of 41.68, a P/E/G ratio of 2.77 and a beta of 0.91. The company has a 50-day simple moving average of $340.21 and a two-hundred day simple moving average of $342.04.

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

Stryker Announces Dividend

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

Insiders Place Their Bets

In related news, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 210,600 shares of company stock worth $68,330,400. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stryker

A number of hedge funds have recently made changes to their positions in the company. Harbor Investment Advisory LLC grew its position in Stryker by 0.4% during the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after buying an additional 31 shares during the period. Aspen Investment Management Inc increased its position in Stryker by 0.7% during the first quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock worth $1,563,000 after buying an additional 31 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of Stryker by 2.4% in the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after acquiring an additional 33 shares in the last quarter. Versant Capital Management Inc increased its position in Stryker by 4.0% during the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after purchasing an additional 33 shares in the last quarter. Finally, Stanley Laman Group Ltd. lifted its stake in shares of Stryker by 4.6% during the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after buying an additional 33 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

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.