Needham & Company LLC Reiterates "Buy" Rating for Stryker (NYSE:SYK)

Needham & Company LLC reissued their buy rating on shares of Stryker (NYSE:SYK - Free Report) in a report issued on Friday,Benzinga reports. They currently have a $442.00 price objective on the medical technology company's stock.

SYK has been the subject of a number of other reports. Truist Financial boosted their price target on shares of Stryker from $409.00 to $413.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. StockNews.com cut shares of Stryker from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. JMP Securities restated a "market perform" rating on shares of Stryker in a report on Tuesday, February 18th. Royal Bank of Canada increased their target price on Stryker from $425.00 to $435.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their target price on Stryker from $427.00 to $435.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $421.90.

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Stryker Stock Performance

Shares of NYSE SYK traded up $4.48 during trading hours on Friday, hitting $375.59. 334,933 shares of the stock were exchanged, compared to its average volume of 1,455,727. The firm has a market capitalization of $143.32 billion, a P/E ratio of 48.40, a P/E/G ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker has a one year low of $314.93 and a one year high of $406.19. The company's 50 day moving average is $384.28 and its 200 day moving average is $374.12.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping analysts' consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the prior year, the firm earned $3.46 EPS. On average, research analysts expect that Stryker will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. Stryker's dividend payout ratio (DPR) is presently 43.30%.

Insider Buying and Selling

In other Stryker news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Stryker in the 4th quarter worth about $25,000. Capital A Wealth Management LLC bought a new position in Stryker during the fourth quarter valued at approximately $26,000. Dunhill Financial LLC grew its position in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 37 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in shares of Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after acquiring an additional 68 shares during the last quarter. Finally, Centricity Wealth Management LLC purchased a new stake in shares of Stryker in the 4th quarter valued at $30,000. Institutional investors own 77.09% of the company's stock.

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.