Stryker (NYSE:SYK) Upgraded by Wall Street Zen to Buy Rating

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

Other equities research analysts have also issued research reports about the company. Roth Mkm upped their target price on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Evercore ISI upped their price objective on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Citigroup restated a "buy" rating and issued a $455.00 price objective (up previously from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research report on Monday, May 5th. Finally, Truist Financial upped their price objective on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $428.55.

Stryker Stock Performance

Shares of NYSE SYK traded down $0.06 during trading on Friday, reaching $388.84. 1,716,294 shares of the company traded hands, compared to its average volume of 1,351,495. The firm has a 50 day simple moving average of $385.67 and a 200-day simple moving average of $378.06. Stryker has a 52-week low of $314.93 and a 52-week high of $406.19. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $148.42 billion, a PE ratio of 52.55, a P/E/G ratio of 2.94 and a beta of 0.91.

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

Stryker Announces Dividend

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

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the sale, the director directly owned 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.90% of the company's stock.

Institutional Investors Weigh In On Stryker

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Elefante Mark B bought a new stake in shares of Stryker in the 4th quarter worth approximately $337,000. Mogy Joel R Investment Counsel Inc. boosted its position in Stryker by 3.4% during the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock valued at $36,561,000 after purchasing an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its position in Stryker by 1.9% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock valued at $65,096,000 after purchasing an additional 3,341 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Stryker in the first quarter worth about $1,840,000. Finally, Mar Vista Investment Partners LLC lifted its position in shares of Stryker by 10.2% in the first quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company's stock worth $33,572,000 after buying an additional 8,353 shares during the last quarter. 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.