Zacks Investment Research upgraded shares of Stryker (NYSE:SYK) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.
According to Zacks, “Stryker has outperformed its industry in a year's time. The company’s solid product portfolio, outstanding performance in the robot-based Mako Total Knee platform and R&D initiatives buoy optimism. The company’s acquisition-driven strategy is expected to expand existing product offerings across all business segments. Continued strong demand for hemorrhagic and ischemic stroke products and neuro-powered instruments are also likely to boost sales in the neurotechnology segment. On the flip side, Stryker has been grappling with supply side issues in its spine business since long. Adding to the concerns, Stryker announced the voluntary product recall of the Oral Care lineup. The recall is likely to adversely impact the company’s sales and operating income. Moreover, volatility in foreign currency adds to our woes.”
A number of other analysts have also recently issued reports on SYK. JPMorgan Chase upgraded Stryker from a neutral rating to an overweight rating in a research report on Tuesday, January 2nd. Wells Fargo reiterated an outperform rating and issued a $174.00 price objective (up previously from $166.00) on shares of Stryker in a report on Tuesday, January 2nd. They noted that the move was a valuation call. Cantor Fitzgerald reiterated a neutral rating and issued a $163.00 price objective on shares of Stryker in a report on Friday, January 5th. Piper Jaffray upped their price objective on Stryker from $156.00 to $166.00 and gave the company an overweight rating in a report on Tuesday, January 9th. Finally, Royal Bank of Canada reiterated a buy rating and issued a $175.00 price objective on shares of Stryker in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the company. Stryker has an average rating of Buy and a consensus target price of $164.77.
SYK traded up $0.09 on Thursday, reaching $158.65. 288,932 shares of the company’s stock were exchanged, compared to its average volume of 1,287,753. The company has a market cap of $59,137.24, a PE ratio of 24.43, a price-to-earnings-growth ratio of 2.27 and a beta of 0.70. Stryker has a twelve month low of $130.06 and a twelve month high of $170.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.59 and a current ratio of 2.29.
Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.01. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.42 billion. Stryker had a net margin of 8.20% and a return on equity of 24.56%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 EPS. sell-side analysts predict that Stryker will post 7.12 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be issued a $0.47 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.88 annualized dividend and a dividend yield of 1.18%. Stryker’s dividend payout ratio (DPR) is currently 28.97%.
In related news, insider Graham A. Mclean sold 2,984 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $160.53, for a total transaction of $479,021.52. Following the completion of the transaction, the insider now directly owns 9,100 shares in the company, valued at $1,460,823. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David Floyd sold 55,119 shares of the stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $166.58, for a total value of $9,181,723.02. The disclosure for this sale can be found here. Insiders sold 142,489 shares of company stock valued at $23,488,485 over the last 90 days. Corporate insiders own 7.40% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of Stryker by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 3,159,538 shares of the medical technology company’s stock worth $488,110,000 after purchasing an additional 85,614 shares during the period. Jensen Investment Management Inc. boosted its holdings in shares of Stryker by 0.3% during the 4th quarter. Jensen Investment Management Inc. now owns 2,478,958 shares of the medical technology company’s stock valued at $383,842,000 after acquiring an additional 6,482 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Stryker by 15.5% during the 4th quarter. Lazard Asset Management LLC now owns 2,208,379 shares of the medical technology company’s stock valued at $341,945,000 after acquiring an additional 296,550 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in shares of Stryker by 16.6% during the 4th quarter. TIAA CREF Investment Management LLC now owns 1,280,839 shares of the medical technology company’s stock valued at $198,325,000 after acquiring an additional 182,060 shares in the last quarter. Finally, Atlantic Trust Group LLC boosted its holdings in shares of Stryker by 1.2% during the 3rd quarter. Atlantic Trust Group LLC now owns 1,186,100 shares of the medical technology company’s stock valued at $168,449,000 after acquiring an additional 13,657 shares in the last quarter. Institutional investors and hedge funds own 75.72% of the company’s stock.
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Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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