Needham & Company LLC Issues Positive Forecast for Stryker (NYSE:SYK) Stock Price

Stryker (NYSE:SYK - Free Report) had its target price hoisted by Needham & Company LLC from $409.00 to $442.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the medical technology company's stock.

SYK has been the subject of several other reports. Robert W. Baird increased their price target on shares of Stryker from $378.00 to $405.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Truist Financial raised their target price on shares of Stryker from $370.00 to $380.00 and gave the company a "hold" rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their price objective on Stryker from $405.00 to $427.00 and gave the company an "overweight" rating in a report on Wednesday. Morgan Stanley upgraded Stryker from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Finally, BTIG Research increased their price target on Stryker from $383.00 to $394.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Stryker presently has a consensus rating of "Moderate Buy" and a consensus price target of $404.35.

Stryker Stock Down 0.3 %

NYSE SYK traded down $1.10 during trading on Thursday, reaching $375.06. 845,347 shares of the company's stock traded hands, compared to its average volume of 1,260,066. Stryker has a 12-month low of $285.79 and a 12-month high of $398.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The firm has a market cap of $142.98 billion, a price-to-earnings ratio of 40.23, a price-to-earnings-growth ratio of 2.89 and a beta of 0.94. The company's 50 day simple moving average is $372.42 and its two-hundred day simple moving average is $354.51.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. Stryker's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.46 earnings per share. As a group, sell-side analysts forecast that Stryker will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.90%. This is an increase from Stryker's previous quarterly dividend of $0.80. Stryker's dividend payout ratio is 36.01%.

Insider Transactions at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the company's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares of the company's stock, valued at $3,715,540. The trade was a 17.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,781 shares of company stock valued at $24,612,275 in the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Dunhill Financial LLC increased 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 worth $27,000 after purchasing an additional 37 shares during the last quarter. Centennial Bank AR grew its stake in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock valued at $32,000 after buying an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Stryker during the 3rd quarter worth approximately $36,000. HBW Advisory Services LLC purchased a new stake in shares of Stryker during the 3rd quarter valued at approximately $42,000. Finally, Hara Capital LLC acquired a new position in Stryker in the third quarter valued at approximately $42,000. 77.09% of the stock is owned by hedge funds and other 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.