Stryker (NYSE:SYK) Price Target Increased to $386.00 by Analysts at Royal Bank of Canada

Stryker (NYSE:SYK) had its target price boosted by Royal Bank of Canada from $360.00 to $386.00 in a research note published on Monday morning, Benzinga reports. They currently have an outperform rating on the medical technology company’s stock.

SYK has been the topic of several other research reports. Evercore ISI lifted their target price on Stryker from $340.00 to $370.00 and gave the company an outperform rating in a research note on Thursday, April 4th. StockNews.com raised Stryker from a hold rating to a buy rating in a research note on Tuesday, January 23rd. Canaccord Genuity Group raised Stryker from a hold rating to a buy rating and lifted their target price for the company from $315.00 to $360.00 in a research note on Wednesday, January 31st. Citigroup lifted their price objective on Stryker from $362.00 to $406.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. Finally, TD Cowen lifted their price objective on Stryker from $365.00 to $400.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Stryker currently has a consensus rating of Moderate Buy and a consensus price target of $339.22.

Stryker Stock Down 0.9 %

SYK stock opened at $339.13 on Monday. Stryker has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The stock has a market cap of $129.03 billion, a P/E ratio of 41.11, a PEG ratio of 2.75 and a beta of 0.89. The business’s 50-day moving average price is $350.75 and its 200-day moving average price is $311.41.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.19. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $3.00 EPS. On average, equities research analysts forecast that Stryker will post 11.86 EPS for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s payout ratio is currently 38.79%.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the sale, the director now directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Insiders sold a total of 212,109 shares of company stock worth $72,845,768 in the last quarter. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Burkett Financial Services LLC acquired a new position in Stryker during the 4th quarter valued at about $25,000. Freedom Wealth Alliance LLC acquired a new position in shares of Stryker in the fourth quarter valued at about $26,000. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 61 shares during the period. Quarry LP acquired a new position in shares of Stryker in the first quarter valued at about $27,000. Finally, Rogco LP acquired a new position in shares of Stryker in the fourth quarter valued at about $30,000. 77.09% of the stock is owned by 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.