Stryker Price Target Raised to $89.00 at Bernstein (SYK)
Investment analysts at Bernstein lifted their price objective on shares of Stryker (NYSE:SYK) from $84.00 to $89.00 in a note issued to investors on Wednesday. Bernstein’s price target would suggest a potential upside of 4.14% from the company’s current price.
In other Stryker news, Director Ronda E. Stryker sold 21,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $84.64, for a total transaction of $1,777,440.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Stryker (NYSE:SYK) traded up 0.06% on Wednesday, hitting $85.51. 303,503 shares of the company’s stock traded hands. Stryker has a 1-year low of $63.71 and a 1-year high of $85.76. The stock’s 50-day moving average is $79.94 and its 200-day moving average is $78.53. The company has a market cap of $32.416 billion and a price-to-earnings ratio of 42.33.
Stryker (NYSE:SYK) last released its earnings data on Wednesday, April 23rd. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by $0.03. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts expect that Stryker will post $4.82 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Thursday, June 26th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Stryker in a research note on Friday, April 25th. They now have a $82.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. cut their price target on shares of Stryker from $83.00 to $82.00 in a research note on Thursday, April 24th. Finally, analysts at Canaccord Genuity raised their price target on shares of Stryker from $82.00 to $85.00 in a research note on Thursday, April 24th. They now have a “buy” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Stryker currently has an average rating of “Hold” and a consensus target price of $81.63.
Stryker Corporation (NYSE:SYK) is a medical technology company.
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