Barclays Boosts Stryker (NYSE:SYK) Price Target to $376.00

Stryker (NYSE:SYK - Free Report) had its price target hoisted by Barclays from $372.00 to $376.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the medical technology company's stock.

Several other analysts have also weighed in on SYK. Royal Bank of Canada raised their price objective on shares of Stryker from $360.00 to $386.00 and gave the stock an outperform rating in a report on Monday, April 15th. Truist Financial lifted their target price on Stryker from $330.00 to $345.00 and gave the stock a hold rating in a report on Wednesday, January 31st. Needham & Company LLC reaffirmed a hold rating on shares of Stryker in a research note on Wednesday. Roth Mkm lifted their price target on shares of Stryker from $348.00 to $405.00 and gave the company a buy rating in a research note on Wednesday. Finally, StockNews.com raised shares of Stryker from a hold rating to a buy rating in a research report on Tuesday, January 23rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $359.00.

Stryker Stock Performance

Shares of NYSE SYK traded down $1.39 during mid-day trading on Thursday, hitting $326.73. The company had a trading volume of 1,846,993 shares, compared to its average volume of 1,325,153. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. The business's 50-day simple moving average is $347.52 and its 200-day simple moving average is $316.85. Stryker has a 12 month low of $249.98 and a 12 month high of $361.41. The firm has a market cap of $124.31 billion, a P/E ratio of 37.30, a PEG ratio of 2.71 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.44%. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the prior year, the business posted $2.14 earnings per share. The company's quarterly revenue was up 9.7% compared to the same quarter last year. As a group, analysts predict that Stryker will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were issued a $0.80 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 annualized dividend and a dividend yield of 0.98%. Stryker's dividend payout ratio is currently 36.53%.

Insider Buying and Selling 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 shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now directly owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Ronda E. Stryker sold 201,146 shares of the company's stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now directly owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Allan C. Golston sold 3,273 shares of the company's stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the transaction, the director now owns 14,242 shares in the company, valued at $4,856,522. The disclosure for this sale can be found here. Insiders have sold a total of 212,109 shares of company stock worth $72,845,768 over the last ninety days. Insiders own 5.90% of the company's stock.

Hedge Funds Weigh In On Stryker

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in Stryker during the fourth quarter worth about $1,260,562,000. Global Assets Advisory LLC acquired a new stake in Stryker during the 1st quarter valued at approximately $341,049,000. Magellan Asset Management Ltd increased its position in Stryker by 74,911.8% during the 3rd quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company's stock valued at $185,921,000 after purchasing an additional 679,450 shares during the period. Price T Rowe Associates Inc. MD increased its position in Stryker by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company's stock valued at $3,755,782,000 after purchasing an additional 642,178 shares during the period. Finally, Barclays PLC increased its position in Stryker by 103.5% during the 3rd quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company's stock valued at $296,493,000 after purchasing an additional 551,798 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Company Profile

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.