Stryker Corporation (SYK) Given “Buy” Rating at Royal Bank Of Canada
Royal Bank Of Canada reaffirmed their buy rating on shares of Stryker Corporation (NYSE:SYK) in a research report sent to investors on Monday. Royal Bank Of Canada currently has a $155.00 target price on the medical technology company’s stock.
Other research analysts have also issued research reports about the stock. SunTrust Banks, Inc. reissued a buy rating and issued a $161.00 price target on shares of Stryker Corporation in a research report on Monday. Argus reaffirmed a buy rating and set a $160.00 price objective on shares of Stryker Corporation in a report on Tuesday, August 29th. BidaskClub lowered Stryker Corporation from a buy rating to a hold rating in a research note on Saturday, August 26th. Needham & Company LLC upgraded Stryker Corporation from an underperform rating to a hold rating in a research note on Friday, August 25th. Finally, Piper Jaffray Companies reissued an overweight rating and issued a $148.00 target price on shares of Stryker Corporation in a report on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $146.78.
Shares of Stryker Corporation (NYSE:SYK) traded up 0.14% during midday trading on Monday, reaching $143.71. The company’s stock had a trading volume of 609,558 shares. The company has a market capitalization of $53.76 billion, a price-to-earnings ratio of 32.08 and a beta of 0.81. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $148.84. The stock has a 50 day moving average price of $142.42 and a 200-day moving average price of $139.68.
Stryker Corporation (NYSE:SYK) last announced its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the prior year, the company posted $1.39 EPS. The business’s revenue was up 6.1% on a year-over-year basis. Equities research analysts expect that Stryker Corporation will post $6.46 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a $0.425 dividend. The ex-dividend date of this dividend 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 David Floyd sold 19,305 shares of the company’s 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Graham A. Mclean sold 1,124 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total transaction of $164,396.24. Following the transaction, the insider now owns 8,983 shares in the company, valued at $1,313,853.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,429 shares of company stock valued at $3,686,927. 7.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in SYK. Curbstone Financial Management Corp boosted its stake in Stryker Corporation by 86.9% in the third quarter. Curbstone Financial Management Corp now owns 3,560 shares of the medical technology company’s stock valued at $506,000 after acquiring an additional 1,655 shares during the last quarter. Intl Fcstone Inc. acquired a new stake in Stryker Corporation during the 2nd quarter worth $287,000. Gs Investments Inc. acquired a new stake in Stryker Corporation during the 2nd quarter worth $2,555,000. USA Financial Portformulas Corp acquired a new stake in Stryker Corporation during the 2nd quarter worth $3,388,000. Finally, Atlantic Trust LLC acquired a new stake in Stryker Corporation during the 2nd quarter worth $201,000. Institutional investors and hedge funds own 74.13% of the company’s stock.
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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