Stryker (NYSE:SYK) Price Target Raised to $415.00 at Evercore ISI

Stryker (NYSE:SYK - Free Report) had its price target hoisted by Evercore ISI from $390.00 to $415.00 in a report published on Tuesday,Benzinga reports. They currently have an outperform rating on the medical technology company's stock.

A number of other brokerages have also weighed in on SYK. Roth Mkm boosted their price objective on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Citigroup restated a "buy" rating and set a $455.00 price objective (up previously from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. JMP Securities restated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Truist Financial upped their price target on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, May 5th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Stryker has an average rating of "Moderate Buy" and an average target price of $428.55.

Stryker Price Performance

SYK stock traded down $2.86 during midday trading on Tuesday, reaching $389.65. 1,195,342 shares of the stock were exchanged, compared to its average volume of 1,347,476. The stock has a market capitalization of $148.73 billion, a PE ratio of 52.66, a P/E/G ratio of 2.98 and a beta of 0.91. Stryker has a 52 week low of $314.93 and a 52 week high of $406.19. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. The company has a fifty day moving average price of $383.44 and a 200 day moving average price of $376.58.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. Stryker's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.50 EPS. As a group, analysts expect that Stryker will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is 45.41%.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director directly owned 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Elefante Mark B acquired a new position in Stryker during the 4th quarter worth approximately $337,000. Mogy Joel R Investment Counsel Inc. raised its stake in Stryker by 3.4% during the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock worth $36,561,000 after buying an additional 3,218 shares during the period. Ferguson Wellman Capital Management Inc. raised its stake in Stryker by 1.9% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock worth $65,096,000 after buying an additional 3,341 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Stryker during the 1st quarter worth approximately $1,840,000. Finally, Fred Alger Management LLC raised its stake in shares of Stryker by 415.8% in the fourth quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company's stock worth $8,664,000 after purchasing an additional 19,356 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

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.