Stryker (NYSE:SYK) Price Target Raised to $380.00 at Evercore ISI

Stryker (NYSE:SYK - Free Report) had its price target raised by Evercore ISI from $365.00 to $380.00 in a report issued on Tuesday, Benzinga reports. They currently have an outperform rating on the medical technology company's stock.

Several other brokerages have also recently commented on SYK. Truist Financial dropped their price target on Stryker from $364.00 to $345.00 and set a hold rating for the company in a research report on Thursday, August 1st. BTIG Research increased their price target on Stryker from $360.00 to $374.00 and gave the stock a buy rating in a report on Wednesday, August 28th. Needham & Company LLC raised their target price on Stryker from $392.00 to $393.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Piper Sandler reiterated an overweight rating and issued a $380.00 target price on shares of Stryker in a research note on Tuesday, September 10th. Finally, Barclays boosted their price target on Stryker from $374.00 to $402.00 and gave the stock an overweight rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $379.37.

Stryker Price Performance

Shares of SYK stock traded down $3.90 during trading hours on Tuesday, hitting $357.36. 738,855 shares of the company's stock were exchanged, compared to its average volume of 1,278,155. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The firm has a market cap of $136.14 billion, a P/E ratio of 40.82, a P/E/G ratio of 2.78 and a beta of 0.91. The firm has a 50 day moving average of $348.29 and a two-hundred day moving average of $343.00. Stryker has a fifty-two week low of $249.98 and a fifty-two week high of $374.63.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.02. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business's quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.54 EPS. Sell-side analysts forecast that Stryker will post 12 EPS for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Monday, September 30th. Stryker's dividend payout ratio (DPR) is presently 36.53%.

Insider Transactions at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares of the company's stock, valued at $949,716. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares of the company's stock, valued at $949,716. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Viju Menon sold 600 shares of the company's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares of the company's stock, valued at approximately $3,219,495. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock valued at $71,811,372 over the last quarter. Company insiders own 5.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Centennial Bank AR lifted its stake in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock worth $32,000 after acquiring an additional 48 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Stryker in the first quarter worth about $39,000. Accent Capital Management LLC acquired a new position in shares of Stryker in the fourth quarter worth about $60,000. Sachetta LLC lifted its stake in shares of Stryker by 16.3% in the second quarter. Sachetta LLC now owns 242 shares of the medical technology company's stock worth $80,000 after acquiring an additional 34 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its stake in Stryker by 17.9% during the first quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company's stock valued at $94,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds 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.