In yesterday’s Wall Street session, Stryker Corporation (NYSE:SYK) shares traded at $282.01, down -2.80% from the previous session.
As of this writing, 29 analysts cover Stryker Corporation (NYSE:SYK). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $345.00 and a low of $290.00, we find $317.00. Given the previous closing price of $290.12, this indicates a potential upside of 9.27 percent. SYK stock price is now -2.56% away from the 50-day moving average and 6.76% away from the 200-day moving average. The market capitalization of the company currently stands at $107.21B.
There are 12 analysts who have given it a hold rating, whereas 13 have given it a buy rating. Brokers who have rated the stock have averaged $317.36 as their price target over the next twelve months.
With the price target of $287, UBS recently initiated with Neutral rating for Stryker Corporation (NYSE: SYK).
In other news, Datar Srikant M., Director sold 500 shares of the company’s stock on Jun 01. The stock was sold for $139,250 at an average price of $278.50. Upon completion of the transaction, the Director now directly owns 5,467 shares in the company, valued at $1.54 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 18, Director Datar Srikant M. sold 1,000 shares of the business’s stock. A total of $286,000 was realized by selling the stock at an average price of $286.00. This leaves the insider owning 5,967 shares of the company worth $1.68 million. Insiders disposed of 302,702 shares of company stock worth roughly $85.36 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SYK stock. A new stake in Stryker Corporation shares was purchased by WAFRA INC. during the first quarter worth $54,751,000. WOODLINE PARTNERS LP invested $23,932,000 in shares of SYK during the first quarter. In the first quarter, INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC acquired a new stake in Stryker Corporation valued at approximately $17,279,000. INTEGRAL HEALTH ASSET MANAGEMENT, LLC acquired a new stake in SYK for approximately $14,101,000. ELEMENT CAPITAL MANAGEMENT LLC purchased a new stake in SYK valued at around $11,193,000 in the second quarter. In total, there are 2,233 active investors with 79.80% ownership of the company’s stock.
Thursday morning saw Stryker Corporation (NYSE: SYK) opened at $290.50. During the past 12 months, Stryker Corporation has had a low of $200.80 and a high of $306.93. As of last week, the company has a debt-to-equity ratio of 0.77, a current ratio of 1.70, and a quick ratio of 1.00. According to the stock market information, the enterprise value for the company is $118.36B, which is based on a 41.04 price-to-earnings ratio, a 4.51 price-to-earnings-growth ratio, and a beta of 0.97. The fifty day moving average price for SYK is $289.27 and a two-hundred day moving average price translates $264.52 for the stock.
The latest earnings results from Stryker Corporation (NYSE: SYK) was released for Mar, 2023. According to the Medical Devices Company, earnings per share came in at $2.14, beating analysts’ expectations of $2 by 0.14. This compares to $0.84 EPS in the same period last year. The net profit margin was 13.90% and return on equity was 16.00% for SYK. The company reported revenue of $4.78 billion for the quarter, compared to $4.28 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.77 percent. For the current quarter, analysts expect SYK to generate $4.82B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/31/2023. Investors who held shares on 06/30/2023 were paid a $0.75 dividend. On an annualized basis, this represents a $3.00 dividend and a 1.06% percent yield. There was an ex-dividend date of 06/29/2023 for this dividend. In terms of dividend payout ratio, SYK is presently at 41.60%.
Stryker Corporation(SYK) 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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies. The MedSurg and Neurotechnology 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 device products that are used in various medical specialties. This segment also provides neurotechnology products, which include products used for minimally invasive endovascular techniques; products for brain and open skull based surgical procedures; orthobiologic and biosurgery products, such as synthetic bone grafts and vertebral augmentation products; minimally invasive products for the treatment of acute ischemic and hemorrhagic stroke; and craniomaxillofacial implant products, including cranial, maxillofacial, and chest wall devices, as well as dural substitutes and sealants. The company sells its products to doctors, hospitals, and other healthcare facilities through company-owned subsidiaries and branches, as well as third-party dealers and distributors in approximately 75 countries. Stryker Corporation was founded in 1941 and is headquartered in Kalamazoo, Michigan.
