Cowen and Company Analysts Give Stryker Corporation (SYK) a $160.00 Price Target
Several other equities analysts have also issued reports on the stock. Royal Bank Of Canada reaffirmed a buy rating and issued a $155.00 price target on shares of Stryker Corporation in a report on Monday, October 2nd. SunTrust Banks, Inc. reaffirmed a buy rating and issued a $161.00 price target on shares of Stryker Corporation in a report on Monday, October 2nd. Argus reaffirmed a buy rating and issued a $160.00 price target on shares of Stryker Corporation in a report on Tuesday, August 29th. BidaskClub lowered shares of Stryker Corporation from a buy rating to a hold rating in a report on Saturday, August 26th. Finally, Needham & Company LLC raised shares of Stryker Corporation from an underperform rating to a hold rating in a report on Friday, August 25th. Two 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 stock. The company presently has a consensus rating of Hold and an average target price of $146.78.
Stryker Corporation (NYSE SYK) opened at 149.00 on Friday. The company has a 50-day moving average price of $142.44 and a 200 day moving average price of $139.99. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $149.23. The company has a market capitalization of $55.74 billion, a PE ratio of 33.26 and a beta of 0.81.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.02. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the previous year, the company earned $1.39 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts anticipate that Stryker Corporation will post $6.46 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.14%. Stryker Corporation’s dividend payout ratio is currently 37.95%.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the completion of the sale, the insider now owns 88,207 shares of the company’s stock, valued at $12,909,976.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Graham A. Mclean sold 1,124 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total transaction of $164,396.24. Following the sale, the insider now directly owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. Insiders have sold 25,429 shares of company stock valued at $3,686,927 in the last three months. Corporate 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 stock. Curbstone Financial Management Corp grew its stake in Stryker Corporation by 86.9% during the 3rd 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 in the last quarter. Intl Fcstone Inc. purchased a new stake in Stryker Corporation during the 2nd quarter valued at about $287,000. Gs Investments Inc. purchased a new stake in Stryker Corporation during the 2nd quarter valued at about $2,555,000. USA Financial Portformulas Corp purchased a new stake in Stryker Corporation during the 2nd quarter valued at about $3,388,000. Finally, Atlantic Trust LLC purchased a new stake in Stryker Corporation during the 2nd quarter valued at about $201,000. 74.13% 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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