Stryker (NYSE:SYK) had its price objective upped by Deutsche Bank from $181.00 to $208.00 in a research note published on Wednesday morning, BenzingaRatingsTable reports. Deutsche Bank currently has a buy rating on the medical technology company’s stock.
A number of other brokerages have also recently weighed in on SYK. Wells Fargo & Co raised their target price on shares of Stryker from $214.00 to $219.00 and gave the stock an outperform rating in a report on Monday, April 1st. Zacks Investment Research cut shares of Stryker from a buy rating to a hold rating in a report on Friday, April 12th. BTIG Research raised their target price on shares of Stryker to $211.00 and gave the stock a buy rating in a report on Monday, March 18th. Barclays raised their target price on shares of Stryker from $203.00 to $211.00 and gave the stock an overweight rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of Stryker from $200.00 to $215.00 and gave the stock an overweight rating in a report on Tuesday, March 19th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $195.99.
NYSE SYK opened at $184.97 on Wednesday. The company has a market cap of $69.76 billion, a P/E ratio of 25.30, a P/E/G ratio of 2.27 and a beta of 0.88. Stryker has a 12 month low of $144.75 and a 12 month high of $199.85. The company has a current ratio of 2.02, a quick ratio of 1.41 and a debt-to-equity ratio of 0.72.
Stryker (NYSE:SYK) last issued its earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.04. The firm had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.51 billion. Stryker had a net margin of 25.38% and a return on equity of 27.58%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the firm posted $1.68 earnings per share. Sell-side analysts predict that Stryker will post 8.13 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Thursday, March 28th. Stryker’s dividend payout ratio is 28.45%.
In other Stryker news, VP Yin C. Becker sold 15,240 shares of Stryker stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $198.03, for a total transaction of $3,017,977.20. Following the completion of the sale, the vice president now owns 16,577 shares of the company’s stock, valued at approximately $3,282,743.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael Damon Hutchinson sold 15,995 shares of Stryker stock in a transaction on Friday, February 8th. The shares were sold at an average price of $180.49, for a total transaction of $2,886,937.55. The disclosure for this sale can be found here. Insiders sold a total of 130,455 shares of company stock valued at $24,723,292 in the last ninety days. Company insiders own 7.20% of the company’s stock.
Large investors have recently modified their holdings of the business. ERTS Wealth Advisors LLC bought a new position in Stryker in the 4th quarter worth $25,000. Northwest Wealth Management LLC raised its holdings in Stryker by 103.6% in the 4th quarter. Northwest Wealth Management LLC now owns 169 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 86 shares during the period. Semmax Financial Advisors Inc. bought a new position in Stryker in the 4th quarter worth $28,000. Horan Securities Inc. bought a new position in Stryker in the 4th quarter worth $30,000. Finally, Truehand Inc bought a new position in Stryker in the 4th quarter worth $30,000. 74.67% of the stock is owned by institutional investors.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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