Stryker (NYSE:SYK) Upgraded to "Buy" at Wall Street Zen

Wall Street Zen upgraded shares of Stryker (NYSE:SYK - Free Report) from a hold rating to a buy rating in a report issued on Saturday morning.

SYK has been the subject of several other reports. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research report on Monday, May 5th. Evercore ISI decreased their price objective on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. JMP Securities reissued a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Truist Financial increased their target price on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. Finally, Citigroup reissued a "buy" rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $427.30.

Stryker Trading Down 0.9%

NYSE SYK traded down $3.48 on Friday, hitting $377.01. The company's stock had a trading volume of 876,021 shares, compared to its average volume of 1,330,549. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. Stryker has a 1-year low of $314.93 and a 1-year high of $406.19. The company's 50-day moving average is $372.73 and its 200 day moving average is $375.83. The firm has a market cap of $143.90 billion, a PE ratio of 48.58, a PEG ratio of 2.93 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. During the same period in the prior year, the company posted $2.50 earnings per share. Stryker's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts predict that Stryker will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio is 45.41%.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the sale, the director now owns 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.90% of the company's stock.

Hedge Funds Weigh In On Stryker

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Stryker by 1.1% in the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock worth $12,306,572,000 after purchasing an additional 361,136 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Stryker by 9.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock worth $4,515,847,000 after purchasing an additional 1,021,496 shares in the last quarter. FMR LLC increased its stake in shares of Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after purchasing an additional 727,850 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Stryker by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock worth $2,539,033,000 after purchasing an additional 168,436 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Stryker in the fourth quarter worth about $1,710,744,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

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.