Zacks Reiterates Neutral Rating for Stryker (SYK)
Stryker (NYSE:SYK)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Thursday. They currently have a $88.00 target price on the stock. Zacks‘s price objective indicates a potential upside of 5.38% from the stock’s previous close.
Zacks’ analyst wrote, “Stryker continues to grow through acquisitions. Though its 2014-second quarter adjusted earnings rose nearly 1.0% year-over-year, it missed the Zacks Consensus Estimate by $0.01. The company expects a 5.0 to 6.0% growth in organic revenues for 2014 as compared with the earlier range of 4.5 to 6%. However, we are concerned about the strong competition from Johnson & Johnson. Further, the merger announcements between Medtronic and Covidien, and between Zimmer Holdings and Biomet pose threat to Stryker from becoming a major medtech company. As a result, we reiterate our Neutral recommendation on Stryker and set a target price of $88.00.”
A number of other analysts have also recently weighed in on SYK. Analysts at Needham & Company LLC upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, August 12th. 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $86.29.
Stryker (NYSE:SYK) traded up 0.20% during mid-day trading on Thursday, hitting $83.68. 376,726 shares of the company’s stock traded hands. Stryker has a 52 week low of $66.93 and a 52 week high of $86.93. The stock has a 50-day moving average of $81.28 and a 200-day moving average of $81.65. The company has a market cap of $31.680 billion and a price-to-earnings ratio of 46.65.
Stryker (NYSE:SYK) last posted its quarterly earnings results 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 declared a quarterly dividend, which is scheduled for Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Friday, September 26th.
In other Stryker news, Director Ronda E. Stryker sold 21,000 shares of Stryker stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $83.23, for a total transaction of $1,747,830.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Stryker Corporation (NYSE:SYK) is a medical technology company.
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