Stryker Corporation (NYSE:SYK) Earns Hold Rating from BMO Capital Markets
Stryker Corporation (NYSE:SYK)‘s stock had its “hold” rating reaffirmed by stock analysts at BMO Capital Markets in a report issued on Tuesday, July 11th. They currently have a $140.00 price objective on the medical technology company’s stock. BMO Capital Markets’ target price would indicate a potential downside of 4.46% from the company’s current price.
SYK has been the topic of several other reports. Goldman Sachs Group Inc began coverage on shares of Stryker Corporation in a report on Tuesday, May 16th. They issued a “neutral” rating and a $129.00 price objective on the stock. Cowen and Company set a $150.00 price target on shares of Stryker Corporation and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Morgan Stanley increased their price target on shares of Stryker Corporation from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, March 13th. Barclays PLC reissued a “sell” rating and set a $133.00 price target on shares of Stryker Corporation in a report on Thursday, April 27th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $132.00 price target on shares of Stryker Corporation in a report on Thursday, April 13th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $144.03.
Shares of Stryker Corporation (SYK) traded up 0.11% during trading on Tuesday, hitting $146.53. The stock had a trading volume of 638,405 shares. The stock has a 50 day moving average of $142.76 and a 200 day moving average of $134.44. The firm has a market cap of $54.81 billion, a PE ratio of 32.71 and a beta of 0.80. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $148.84.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.39 EPS. On average, equities analysts anticipate that Stryker Corporation will post $6.50 EPS for the current year.
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In other Stryker Corporation news, insider David Floyd sold 19,305 shares of the stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $144.56, for a total transaction of $2,790,730.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Stryker Corporation by 2,526.4% in the first quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock valued at $2,893,242,000 after buying an additional 21,140,000 shares during the period. Vanguard Group Inc. raised its position in Stryker Corporation by 5.2% in the first quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock valued at $3,083,382,000 after buying an additional 1,161,688 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Stryker Corporation by 41.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,403,420 shares of the medical technology company’s stock valued at $184,759,000 after buying an additional 414,715 shares during the last quarter. SG Americas Securities LLC raised its position in Stryker Corporation by 600.6% in the first quarter. SG Americas Securities LLC now owns 412,340 shares of the medical technology company’s stock valued at $54,285,000 after buying an additional 353,486 shares during the last quarter. Finally, Morgan Stanley raised its position in Stryker Corporation by 17.9% in the first quarter. Morgan Stanley now owns 2,144,472 shares of the medical technology company’s stock valued at $282,320,000 after buying an additional 325,661 shares during the last quarter. 74.07% of the stock is owned by institutional investors.
About Stryker Corporation
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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