Stryker Corporation (SYK) Rating Increased to Outperform at Robert W. Baird
Stryker Corporation (NYSE:SYK) was upgraded by equities researchers at Robert W. Baird from a “neutral” rating to an “outperform” rating in a note issued to investors on Thursday. The firm currently has a $173.00 price objective on the medical technology company’s stock, up from their previous price objective of $161.00. Robert W. Baird’s price objective suggests a potential upside of 11.33% from the stock’s previous close.
SYK has been the topic of several other research reports. SunTrust Banks, Inc. restated a “buy” rating and issued a $161.00 target price on shares of Stryker Corporation in a report on Monday, October 2nd. Stifel Nicolaus boosted their target price on shares of Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a report on Friday, July 28th. Oppenheimer Holdings, Inc. set a $156.00 target price on shares of Stryker Corporation and gave the company a “hold” rating in a report on Monday, October 30th. Canaccord Genuity boosted their target price on shares of Stryker Corporation from $155.00 to $162.00 and gave the company a “buy” rating in a report on Friday, October 27th. Finally, BidaskClub lowered shares of Stryker Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Stryker Corporation has an average rating of “Hold” and an average price target of $152.10.
Stryker Corporation (SYK) opened at $155.40 on Thursday. The company has a market cap of $58,560.00, a price-to-earnings ratio of 24.72, a PEG ratio of 2.46 and a beta of 0.79. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.61 and a current ratio of 2.37. Stryker Corporation has a fifty-two week low of $108.29 and a fifty-two week high of $160.62.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.02. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.97 billion. Stryker Corporation had a net margin of 14.67% and a return on equity of 24.11%. Stryker Corporation’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.39 earnings per share. research analysts forecast that Stryker Corporation will post 6.47 EPS for the current year.
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In other news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $155.34, for a total transaction of $776,700.00. Following the completion of the sale, the insider now directly owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 7.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC purchased a new position in Stryker Corporation during the second quarter worth about $111,000. Motco boosted its holdings in Stryker Corporation by 50.7% during the second quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 278 shares during the last quarter. Bollard Group LLC boosted its holdings in Stryker Corporation by 0.4% during the second quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 3 shares during the last quarter. San Francisco Sentry Investment Group CA boosted its holdings in Stryker Corporation by 47.8% during the third quarter. San Francisco Sentry Investment Group CA now owns 1,005 shares of the medical technology company’s stock worth $143,000 after purchasing an additional 325 shares during the last quarter. Finally, Bruderman Asset Management LLC purchased a new position in Stryker Corporation during the second quarter worth about $150,000. Institutional investors and hedge funds own 74.15% 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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