Stryker (NYSE:SYK) had its target price increased by Credit Suisse Group from $237.00 to $243.00 in a research report released on Friday morning, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the medical technology company’s stock.
A number of other brokerages have also issued reports on SYK. Cfra reduced their target price on shares of Stryker from $234.00 to $231.00 and set a strong-buy rating on the stock in a research report on Friday, May 1st. JPMorgan Chase & Co. reduced their target price on shares of Stryker from $240.00 to $210.00 and set an overweight rating on the stock in a research report on Wednesday, April 15th. Deutsche Bank reduced their target price on shares of Stryker from $243.00 to $228.00 and set a buy rating on the stock in a research report on Friday, May 1st. Wells Fargo & Co upped their target price on shares of Stryker from $201.00 to $205.00 and gave the stock an overweight rating in a research report on Friday, May 1st. Finally, UBS Group reduced their target price on shares of Stryker from $230.00 to $202.00 and set a neutral rating on the stock in a research report on Friday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Stryker currently has a consensus rating of Buy and a consensus target price of $216.25.
Stryker stock traded down $6.90 during trading hours on Friday, hitting $193.30. 2,221,195 shares of the stock were exchanged, 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 stock has a market capitalization of $75.04 billion, a P/E ratio of 45.91, a P/E/G ratio of 3.48 and a beta of 0.84. Stryker has a 12 month low of $124.54 and a 12 month high of $226.30. The business’s 50-day moving average is $186.61 and its two-hundred day moving average is $189.31.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Tuesday, September 29th. Stryker’s payout ratio is presently 27.85%.
In other Stryker news, CFO Glenn S. Boehnlein sold 10,351 shares of Stryker stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $185.24, for a total value of $1,917,419.24. Following the transaction, the chief financial officer now owns 16,321 shares of the company’s stock, valued at $3,023,302.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Srikant M. Datar sold 200 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $194.32, for a total transaction of $38,864.00. Following the completion of the transaction, the director now owns 17,686 shares of the company’s stock, valued at approximately $3,436,743.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,670 shares of company stock valued at $5,775,251. Insiders own 6.80% of the company’s stock.
Several large investors have recently modified their holdings of SYK. Fisher Asset Management LLC boosted its stake in Stryker by 48,721.0% in the 1st quarter. Fisher Asset Management LLC now owns 1,301,567 shares of the medical technology company’s stock worth $216,698,000 after purchasing an additional 1,298,901 shares during the period. BlueSpruce Investments LP acquired a new position in shares of Stryker during the first quarter worth about $194,038,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Stryker by 20.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 6,216,034 shares of the medical technology company’s stock worth $1,034,908,000 after buying an additional 1,069,721 shares in the last quarter. 1832 Asset Management L.P. raised its position in Stryker by 519.3% in the 1st quarter. 1832 Asset Management L.P. now owns 1,199,607 shares of the medical technology company’s stock valued at $196,926,000 after buying an additional 1,005,913 shares during the last quarter. Finally, WCM Investment Management LLC raised its position in Stryker by 97.7% in the 1st quarter. WCM Investment Management LLC now owns 1,425,836 shares of the medical technology company’s stock valued at $237,387,000 after buying an additional 704,585 shares during the last quarter. Institutional investors and hedge funds own 71.24% of the company’s stock.
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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