Stryker Corporation (NYSE:SYK) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Stryker Corporation has received a consensus rating of "Moderate Buy" from 19 research firms, with 15 analysts recommending a buy and 4 recommending a hold.
• The company's average 12-month price target among analysts is $430.10, reflecting positive market sentiment.
• Stryker reported quarterly earnings of $3.13 EPS, exceeding estimates, with revenue surpassing expectations at $6.02 billion, also marking an 11.1% year-over-year increase.

Stryker Corporation (NYSE:SYK - Get Free Report) has received an average rating of "Moderate Buy" from the nineteen research firms that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $430.10.

Several research analysts have commented on SYK shares. BTIG Research restated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Needham & Company LLC raised their price target on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a report on Friday, August 1st. Wells Fargo & Company raised their price target on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Finally, Roth Mkm raised their price target on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd.

Stryker Stock Performance

Shares of SYK stock traded down $0.17 on Monday, hitting $376.50. 960,134 shares of the stock were exchanged, compared to its average volume of 1,440,119. 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 $143.94 billion, a PE ratio of 49.87, a P/E/G ratio of 2.74 and a beta of 0.91. Stryker has a one year low of $325.37 and a one year high of $406.19. The firm's 50 day moving average is $387.08 and its two-hundred day moving average is $379.86.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping the consensus estimate of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter last year, the company earned $2.81 EPS. The firm's revenue was up 11.1% compared to the same quarter last year. Sell-side analysts expect that Stryker will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm'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 transaction of $75,290,000.00. Following the transaction, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Stryker

A number of large investors have recently made changes to their positions in SYK. GAMMA Investing LLC grew its position in shares of Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after buying an additional 2,070,133 shares during the last quarter. Nuveen LLC purchased a new position in Stryker during the first quarter valued at $558,075,000. Price T Rowe Associates Inc. MD raised its stake in Stryker by 9.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock valued at $4,515,847,000 after buying an additional 1,021,496 shares during the last quarter. Alliancebernstein L.P. raised its stake in Stryker by 66.7% during the first quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company's stock valued at $511,152,000 after buying an additional 549,643 shares during the last quarter. Finally, ABN AMRO Bank N.V. purchased a new position in Stryker during the second quarter valued at $191,047,000. 77.09% of the stock is currently owned by institutional investors.

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.