BMO Capital Markets Upgrades Stryker (SYK) to “Market Perform”
BMO Capital Markets upgraded shares of Stryker (NYSE:SYK) to a market perform rating in a research note published on Tuesday, The Fly reports. BMO Capital Markets currently has $163.00 target price on the medical technology company’s stock.
A number of other research firms have also recently issued reports on SYK. Cowen set a $166.00 target price on Stryker and gave the company a buy rating in a research note on Sunday, October 29th. Needham & Company LLC reissued a hold rating on shares of Stryker in a report on Friday, November 3rd. ValuEngine lowered Stryker from a buy rating to a hold rating in a report on Friday, December 1st. SunTrust Banks reissued a buy rating and set a $161.00 price target on shares of Stryker in a report on Friday, November 17th. Finally, Oppenheimer set a $156.00 price target on Stryker and gave the company a hold rating in a report on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $153.19.
Shares of Stryker (NYSE:SYK) opened at $154.25 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $56,637.12, a price-to-earnings ratio of 23.98, a price-to-earnings-growth ratio of 2.38 and a beta of 0.78. Stryker has a one year low of $116.50 and a one year high of $160.62.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be paid a $0.47 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.88 dividend on an annualized basis and a yield of 1.22%. This is a boost from Stryker’s previous quarterly dividend of $0.43. Stryker’s dividend payout ratio (DPR) is currently 36.32%.
In related news, insider Lonny J. Carpenter sold 5,000 shares of Stryker stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $155.34, for a total value of $776,700.00. Following the transaction, the insider now owns 83,207 shares of the company’s stock, valued at approximately $12,925,375.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 SYK. Acrospire Investment Management LLC acquired a new stake in Stryker during the 2nd quarter worth about $111,000. Motco lifted its holdings in shares of Stryker by 50.7% during the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after buying an additional 278 shares during the last quarter. San Francisco Sentry Investment Group CA lifted its holdings in shares of Stryker by 47.8% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,005 shares of the medical technology company’s stock valued at $143,000 after buying an additional 325 shares during the last quarter. Bruderman Asset Management LLC acquired a new stake in shares of Stryker during the 2nd quarter valued at about $150,000. Finally, James Investment Research Inc. acquired a new stake in shares of Stryker during the 2nd quarter valued at about $155,000. Hedge funds and other institutional investors own 74.97% of the company’s stock.
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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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