Royal Bank of Canada reaffirmed their buy rating on shares of Stryker (NYSE:SYK) in a report published on Tuesday. The firm currently has a $175.00 price objective on the medical technology company’s stock.
A number of other equities research analysts have also commented on the company. Robert W. Baird upgraded Stryker from a neutral rating to an outperform rating and increased their price target for the stock from $161.00 to $173.00 in a research report on Thursday, November 16th. Zacks Investment Research lowered Stryker from a hold rating to a sell rating in a research report on Monday, October 16th. BMO Capital Markets upgraded Stryker to a market perform rating and set a $163.00 price target on the stock in a research report on Tuesday, December 12th. JPMorgan Chase & Co. upgraded Stryker from a neutral rating to an overweight rating in a research report on Tuesday, January 2nd. Finally, Stifel Nicolaus upped their price objective on Stryker from $158.00 to $168.00 and gave the stock a buy rating in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. Stryker currently has a consensus rating of Hold and a consensus price target of $156.60.
Stryker (NYSE SYK) traded down $1.24 during midday trading on Tuesday, reaching $159.54. The company had a trading volume of 1,241,800 shares, compared to its average volume of 1,150,000. The company has a market cap of $59,710.00, a price-to-earnings ratio of 34.02, a PEG ratio of 2.30 and a beta of 0.78. Stryker has a 1-year low of $119.05 and a 1-year high of $164.20. 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 (NYSE:SYK) last released its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.02. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.97 billion. Stryker had a return on equity of 24.11% and a net margin of 14.67%. Stryker’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.39 EPS. research analysts anticipate that Stryker will post 6.47 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be issued a dividend of $0.47 per share. This is an increase from Stryker’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, December 28th. This represents a $1.88 annualized dividend and a yield of 1.18%. Stryker’s dividend payout ratio is currently 40.09%.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction on 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 7.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of SYK. Acrospire Investment Management LLC acquired a new position in shares of Stryker in the 2nd quarter valued at $111,000. Motco lifted its stake in shares of Stryker by 50.7% in the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 278 shares during the period. Sit Investment Associates Inc. lifted its stake in shares of Stryker by 114.3% in the 4th quarter. Sit Investment Associates Inc. now owns 825 shares of the medical technology company’s stock valued at $128,000 after purchasing an additional 440 shares during the period. San Francisco Sentry Investment Group CA lifted its stake in shares of Stryker by 47.8% in 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 purchasing an additional 325 shares during the period. Finally, Oak Point Wealth Management acquired a new position in shares of Stryker in the 4th quarter valued at $145,000. 74.90% of the stock is currently owned by institutional investors.
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Stryker 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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