Stryker Corporation (SYK) Upgraded by BidaskClub to “Buy”
BidaskClub upgraded shares of Stryker Corporation (NYSE:SYK) from a hold rating to a buy rating in a research note released on Thursday.
Several other equities analysts have also issued reports on SYK. Cowen and Company reaffirmed a buy rating and issued a $160.00 target price (up from $150.00) on shares of Stryker Corporation in a report on Sunday, July 30th. Oppenheimer Holdings, Inc. set a $148.00 price objective on Stryker Corporation and gave the company a hold rating in a report on Friday, July 28th. Citigroup Inc. increased their price objective on Stryker Corporation from $114.00 to $125.00 and gave the company a sell rating in a report on Friday, June 9th. Stifel Nicolaus increased their price objective on Stryker Corporation from $151.00 to $158.00 and gave the company a buy rating in a report on Friday, July 28th. Finally, Jefferies Group LLC reissued a hold rating and set a $132.00 price objective on shares of Stryker Corporation in a report on Friday, June 30th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $144.03.
Shares of Stryker Corporation (NYSE SYK) opened at 144.29 on Thursday. The firm has a market capitalization of $53.97 billion, a PE ratio of 32.21 and a beta of 0.80. The company’s 50-day moving average price is $144.61 and its 200 day moving average price is $136.38. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $148.84.
Stryker Corporation (NYSE:SYK) last released its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. Stryker Corporation’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.39 earnings per share. On average, equities analysts forecast that Stryker Corporation will post $6.50 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.425 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a yield of 1.18%. Stryker Corporation’s payout ratio is 37.95%.
In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $146.36, for a total transaction of $731,800.00. Following the sale, the insider now owns 88,207 shares in the company, valued at $12,909,976.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Floyd sold 19,305 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $144.56, for a total value of $2,790,730.80. The disclosure for this sale can be found here. Insiders have sold 32,810 shares of company stock worth $4,754,958 in the last 90 days. Company insiders own 7.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Bollard Group LLC boosted its position in shares of Stryker Corporation by 0.4% in the first quarter. Bollard Group LLC now owns 829 shares of the medical technology company’s stock worth $109,000 after buying an additional 3 shares during the period. Acrospire Investment Management LLC bought a new position in shares of Stryker Corporation during the second quarter worth about $111,000. Motco boosted its position in shares of Stryker Corporation by 50.7% in the second quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after buying an additional 278 shares during the period. Baystate Wealth Management LLC boosted its position in shares of Stryker Corporation by 2.1% in the first quarter. Baystate Wealth Management LLC now owns 1,066 shares of the medical technology company’s stock worth $139,000 after buying an additional 22 shares during the period. Finally, Bruderman Asset Management LLC bought a new position in shares of Stryker Corporation during the second quarter worth about $150,000. Institutional investors and hedge funds own 73.79% of the company’s stock.
Stryker Corporation Company Profile
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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