Stryker (NYSE:SYK) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Stryker (NYSE:SYK) in a research report released on Friday morning,Benzinga reports. The firm currently has a $442.00 price objective on the medical technology company’s stock.

SYK has been the subject of a number of other reports. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Stifel Nicolaus increased their price objective on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Canaccord Genuity Group lifted their target price on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Royal Bank of Canada increased their price target on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, Truist Financial lifted their price objective on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average price target of $421.90.

Stryker Stock Down 0.8 %

SYK stock opened at $371.38 on Friday. The stock has a market cap of $141.71 billion, a P/E ratio of 47.86, a PEG ratio of 2.93 and a beta of 0.95. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker has a twelve month low of $314.93 and a twelve month high of $406.19. The company’s 50 day moving average is $384.28 and its two-hundred day moving average is $374.12.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the prior year, the business posted $3.46 EPS. Research analysts expect that Stryker will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

Insider Transactions at Stryker

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

Institutional Trading of Stryker

Several large investors have recently modified their holdings of SYK. Vanguard Group Inc. raised its holdings in shares of Stryker by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock worth $11,773,213,000 after acquiring an additional 252,188 shares during the last quarter. State Street Corp lifted its stake in shares of Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after buying an additional 316,404 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Stryker by 0.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company’s stock worth $4,000,056,000 after acquiring an additional 54,693 shares during the last quarter. FMR LLC grew its position in shares of Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock valued at $2,892,946,000 after purchasing an additional 727,850 shares during the period. Finally, Geode Capital Management LLC increased its stake in Stryker by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock valued at $2,539,033,000 after purchasing an additional 168,436 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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.