Investment analysts at SunTrust Banks Inc. began coverage on shares of Stryker Corp. (NYSE:SYK) in a research report issued on Thursday. The firm set a “buy” rating on the medical technology company’s stock.

A number of other research firms have also commented on SYK. Piper Jaffray Cos. boosted their price objective on Stryker Corp. from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, July 22nd. Credit Suisse Group AG reissued an “outperform” rating and issued a $124.00 price objective (up previously from $110.00) on shares of Stryker Corp. in a research note on Tuesday, July 19th. Brean Capital reissued a “buy” rating and issued a $125.00 price objective (up previously from $121.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Jefferies Group reissued a “hold” rating and issued a $120.00 price objective (up previously from $113.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $130.00 price objective on shares of Stryker Corp. in a research note on Sunday, July 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $114.91.

Analyst Recommendations for Stryker Corp. (NYSE:SYK)

Stryker Corp. (NYSE:SYK) traded down 0.30% on Thursday, reaching $113.58. The company had a trading volume of 867,171 shares. The company’s 50 day moving average price is $115.19 and its 200-day moving average price is $114.05. The company has a market capitalization of $42.51 billion, a price-to-earnings ratio of 26.78 and a beta of 0.72. Stryker Corp. has a 12 month low of $86.68 and a 12 month high of $123.55.

Stryker Corp. (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 21st. The medical technology company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.02. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.79 billion. Stryker Corp. had a return on equity of 23.61% and a net margin of 15.33%. On average, equities analysts predict that Stryker Corp. will post $5.76 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.52 annualized dividend and a yield of 1.34%. Stryker Corp.’s dividend payout ratio (DPR) is presently 35.85%.

In related news, Director Ronda E. Stryker sold 6,000 shares of the stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $110.81, for a total transaction of $664,860.00. Following the completion of the transaction, the director now directly owns 193,142 shares of the company’s stock, valued at $21,402,065.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 12,000 shares of the stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $122.48, for a total value of $1,469,760.00. Following the transaction, the director now directly owns 193,142 shares of the company’s stock, valued at $23,656,032.16. The disclosure for this sale can be found here. Corporate insiders own 7.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Chip Partners Inc. boosted its position in shares of Stryker Corp. by 0.3% in the second quarter. Blue Chip Partners Inc. now owns 1,757 shares of the medical technology company’s stock valued at $211,000 after buying an additional 6 shares during the period. Washington Trust Bank raised its stake in Stryker Corp. by 0.5% in the second quarter. Washington Trust Bank now owns 3,040 shares of the medical technology company’s stock valued at $364,000 after buying an additional 15 shares in the last quarter. Wetherby Asset Management Inc. raised its stake in Stryker Corp. by 0.3% in the second quarter. Wetherby Asset Management Inc. now owns 6,242 shares of the medical technology company’s stock valued at $748,000 after buying an additional 18 shares in the last quarter. Douglas Lane & Associates LLC raised its stake in Stryker Corp. by 0.7% in the second quarter. Douglas Lane & Associates LLC now owns 2,945 shares of the medical technology company’s stock valued at $353,000 after buying an additional 20 shares in the last quarter. Finally, Private Bank & Trust Co. raised its stake in Stryker Corp. by 0.5% in the third quarter. Private Bank & Trust Co. now owns 4,222 shares of the medical technology company’s stock valued at $492,000 after buying an additional 23 shares in the last quarter. 75.49% of the stock is owned by hedge funds and other institutional investors.

About Stryker Corp.

Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.

5 Day Chart for NYSE:SYK

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