Citigroup Increases Stryker (NYSE:SYK) Price Target to $232.00

Stryker (NYSE:SYK) had its target price upped by Citigroup from $227.00 to $232.00 in a research report sent to investors on Friday morning, The Fly reports. They currently have a buy rating on the medical technology company’s stock.

Several other equities research analysts have also commented on SYK. SVB Leerink reissued an outperform rating on shares of Stryker in a report on Wednesday, July 15th. Raymond James cut their price target on shares of Stryker from $240.00 to $205.00 and set an outperform rating for the company in a report on Monday, April 13th. Barclays lowered shares of Stryker from an equal weight rating to an underweight rating and set a $155.00 price target for the company. in a report on Monday, April 13th. Morgan Stanley upped their target price on shares of Stryker from $210.00 to $215.00 and gave the stock an overweight rating in a report on Friday, May 1st. Finally, Zacks Investment Research lowered shares of Stryker from a hold rating to a sell rating and set a $190.00 target price for the company. in a report on Monday, May 4th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $216.25.

Shares of SYK traded down $6.90 during trading hours on Friday, hitting $193.30. The stock had a trading volume of 2,221,195 shares, compared to its average volume of 1,253,880. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.77 and a current ratio of 2.58. The firm has a 50-day moving average price of $186.61 and a 200 day moving average price of $189.31. Stryker has a fifty-two week low of $124.54 and a fifty-two week high of $226.30. The firm has a market capitalization of $75.04 billion, a price-to-earnings ratio of 45.91, a PEG ratio of 3.48 and a beta of 0.84.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 30th. The medical technology company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.63 by $0.01. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.63 billion. Stryker had a net margin of 11.38% and a return on equity of 20.53%. As a group, analysts predict that Stryker will post 6.25 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a $0.575 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $2.30 annualized dividend and a dividend yield of 1.19%. Stryker’s dividend payout ratio (DPR) is 27.85%.

In other Stryker news, VP Katherine Ann Owen sold 9,149 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $186.79, for a total value of $1,708,941.71. Following the completion of the transaction, the vice president now owns 1,085 shares in the company, valued at $202,667.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Glenn S. Boehnlein sold 10,351 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $185.24, for a total transaction of $1,917,419.24. Following the completion of the transaction, the chief financial officer now owns 16,321 shares of the company’s stock, valued at approximately $3,023,302.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,670 shares of company stock valued at $5,775,251. Insiders own 6.80% of the company’s stock.

Several hedge funds have recently modified their holdings of SYK. Primecap Management Co. CA increased its stake in Stryker by 110.2% in the first quarter. Primecap Management Co. CA now owns 473,900 shares of the medical technology company’s stock valued at $78,900,000 after purchasing an additional 248,400 shares during the last quarter. Fulton Bank N. A. purchased a new stake in shares of Stryker in the second quarter worth about $1,412,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Stryker by 8.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 11,260 shares of the medical technology company’s stock worth $1,875,000 after buying an additional 893 shares during the period. State of Alaska Department of Revenue boosted its holdings in Stryker by 3.3% in the second quarter. State of Alaska Department of Revenue now owns 77,257 shares of the medical technology company’s stock valued at $13,919,000 after purchasing an additional 2,488 shares during the last quarter. Finally, LGT Capital Partners LTD. boosted its holdings in Stryker by 56.6% in the first quarter. LGT Capital Partners LTD. now owns 360,160 shares of the medical technology company’s stock valued at $59,963,000 after purchasing an additional 130,127 shares during the last quarter. Hedge funds and other institutional investors own 71.24% of the company’s stock.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Analyst Recommendations for Stryker (NYSE:SYK)

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