Needham & Company LLC Upgrades Stryker to Buy (SYK)
Stryker (NYSE:SYK) was upgraded by research analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a report released on Tuesday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Stryker in a research note on Monday, July 21st. They now have a $86.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Stryker in a research note on Monday, July 21st. They now have a $90.00 price target on the stock, up previously from $85.00. Finally, analysts at Cantor Fitzgerald reiterated a “hold” rating on shares of Stryker in a research note on Friday, July 18th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $86.18.
In other Stryker news, Director Ronda E. Stryker sold 21,000 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $79.93, for a total value of $1,678,530.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Stryker (NYSE:SYK) opened at 79.55 on Tuesday. Stryker has a one year low of $66.44 and a one year high of $86.93. The stock has a 50-day moving average of $82.41 and a 200-day moving average of $81.2. The company has a market cap of $30.116 billion and a price-to-earnings ratio of 44.59.
Stryker (NYSE:SYK) last released its earnings data on Thursday, July 17th. The company reported $1.08 earnings per share for the quarter, meeting the analysts’ consensus estimate of $1.08. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the company posted $1.00 earnings per share. Stryker’s revenue was up 6.8% compared to the same quarter last year. Analysts expect that Stryker will post $4.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Friday, September 26th.
Stryker Corporation (NYSE:SYK) is a medical technology company.
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