Brokerages Set Stryker Corporation (NYSE:SYK) Target Price at $430.10

Key Points

• Stryker Corporation has received an average broker rating of "Moderate Buy" from 19 analysts, with a 12-month target price averaging $430.10.
• In recent insider transactions, director Ronda E. Stryker sold 200,000 shares for $75.29 million, which represents a 5.84% decrease in her ownership.
• The company reported $6.02 billion in revenue for the last quarter, exceeding analysts' expectations, and announced a quarterly dividend of $0.84 per share.

Shares of Stryker Corporation (NYSE:SYK - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nineteen research firms that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $430.10.

A number of research firms recently weighed in on SYK. Truist Financial set a $415.00 target price on shares of Stryker and gave the company a "hold" rating in a report on Monday, August 4th. Evercore ISI lifted their target price on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Citigroup reiterated a "buy" rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Finally, BTIG Research reissued a "buy" rating on shares of Stryker in a research report on Monday, July 14th.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Viju Menon sold 500 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

Institutional Investors Weigh In On Stryker

Several hedge funds have recently bought and sold shares of the stock. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Stryker during the 2nd quarter worth approximately $26,000. Capital A Wealth Management LLC acquired a new position in shares of Stryker during the 4th quarter worth approximately $26,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Stryker during the 2nd quarter worth approximately $28,000. Sachetta LLC raised its stake in shares of Stryker by 58.7% during the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company's stock worth $29,000 after buying an additional 27 shares during the period. Finally, Kilter Group LLC acquired a new position in Stryker in the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Performance

NYSE SYK traded down $2.32 during trading hours on Friday, hitting $392.02. 1,094,061 shares of the company's stock traded hands, compared to its average volume of 1,050,233. The business's fifty day moving average price is $389.52 and its two-hundred day moving average price is $379.56. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $149.87 billion, a P/E ratio of 51.92, a P/E/G ratio of 2.85 and a beta of 0.93. Stryker has a 52 week low of $329.16 and a 52 week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter last year, the business earned $2.81 EPS. The firm's revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities research analysts predict that Stryker will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker's dividend payout ratio (DPR) is 44.50%.

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.