Stryker (NYSE:SYK) Rating Increased to Outperform at Citizens Jmp

Citizens Jmp upgraded shares of Stryker (NYSE:SYK) from a market perform rating to an outperform rating in a report released on Friday, MarketBeat reports. The firm currently has $440.00 price objective on the medical technology company’s stock.

Other research analysts also recently issued research reports about the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Stryker in a research report on Monday. Rothschild & Co Redburn began coverage on shares of Stryker in a research note on Thursday, September 18th. They set a “neutral” rating and a $420.00 target price for the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $435.00 price target on shares of Stryker in a research report on Friday, November 14th. Redburn Partners set a $420.00 price target on Stryker in a report on Thursday, September 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $448.00 price objective on shares of Stryker in a research note on Friday, November 14th. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $431.84.

Stryker Trading Up 0.6%

NYSE SYK opened at $355.21 on Friday. The firm has a market capitalization of $135.84 billion, a PE ratio of 46.68, a price-to-earnings-growth ratio of 2.50 and a beta of 0.89. The business’s 50-day moving average price is $365.26 and its two-hundred day moving average price is $377.51. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68. Stryker has a 12 month low of $329.16 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, October 30th. The medical technology company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. During the same period in the previous year, the firm earned $2.87 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. On average, analysts expect that Stryker will post 13.47 EPS for the current year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.88 per share. This is an increase from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Stryker’s dividend payout ratio (DPR) is currently 44.15%.

Insider Activity

In related news, CAO William E. Berry, Jr. sold 1,953 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the sale, the chief accounting officer directly owned 2,833 shares of the company’s stock, valued at $1,035,433.17. The trade was a 40.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 276,173 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the transaction, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 522,118 shares of company stock worth $185,381,932 in the last three months. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Stryker by 0.8% during the third quarter. Vanguard Group Inc. now owns 33,773,399 shares of the medical technology company’s stock valued at $12,485,012,000 after buying an additional 272,828 shares during the last quarter. State Street Corp boosted its stake in Stryker by 1.0% during the 2nd quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock valued at $5,929,765,000 after purchasing an additional 150,204 shares during the last quarter. Geode Capital Management LLC increased its holdings in Stryker by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock worth $2,910,445,000 after purchasing an additional 79,654 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Stryker by 13.3% in the third quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company’s stock worth $2,342,987,000 after purchasing an additional 741,542 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Stryker in the second quarter worth approximately $1,882,173,000. Institutional investors own 77.09% of the company’s stock.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.