Stryker (NYSE:SYK) had its price objective boosted by SVB Leerink from $215.00 to $225.00 in a research report report published on Friday, BenzingaRatingsTable reports. They currently have an outperform rating on the medical technology company’s stock.
Several other analysts have also issued reports on SYK. Argus cut their target price on shares of Stryker from $240.00 to $230.00 and set a buy rating for the company in a research report on Monday, May 11th. Morgan Stanley lifted their price target on shares of Stryker from $210.00 to $215.00 and gave the stock an overweight rating in a research note on Friday, May 1st. Needham & Company LLC reiterated a hold rating on shares of Stryker in a research note on Friday. Barclays cut shares of Stryker from an equal weight rating to an underweight rating and set a $155.00 price target on the stock. in a research note on Monday, April 13th. Finally, Zacks Investment Research cut shares of Stryker from a hold rating to a sell rating and set a $190.00 price target on the stock. in a research note on Monday, May 4th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $216.25.
Shares of SYK stock traded down $6.90 on Friday, reaching $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. Stryker has a 1 year low of $124.54 and a 1 year high of $226.30. The stock has a market cap of $75.04 billion, a P/E ratio of 45.91, a price-to-earnings-growth ratio of 3.48 and a beta of 0.84. The company has a 50 day simple moving average of $186.61 and a 200 day simple moving average of $189.31.
The business 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. 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 currently 27.85%.
In other Stryker news, CFO Glenn S. Boehnlein sold 10,351 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 16,321 shares in the company, valued at approximately $3,023,302.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Allan C. Golston sold 7,299 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $193.23, for a total transaction of $1,410,385.77. Following the completion of the sale, the director now owns 13,972 shares in the company, valued at approximately $2,699,809.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,670 shares of company stock worth $5,775,251. Corporate insiders own 6.80% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Evolution Wealth Advisors LLC increased its holdings in shares of Stryker by 64.4% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 143 shares of the medical technology company’s stock worth $26,000 after buying an additional 56 shares during the last quarter. WASHINGTON TRUST Co bought a new stake in shares of Stryker in the 1st quarter worth about $28,000. Filbrandt Wealth Management LLC bought a new stake in shares of Stryker in the 1st quarter worth about $30,000. Balentine LLC bought a new stake in shares of Stryker in the 1st quarter worth about $31,000. Finally, Ballast Advisors LLC bought a new stake in shares of Stryker in the 1st quarter worth about $31,000. Hedge funds and other institutional investors 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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