Stryker Corp. (SYK) Coverage Initiated at SunTrust Banks Inc.
Equities researchers at SunTrust Banks Inc. began coverage on shares of Stryker Corp. (NYSE:SYK) in a research report issued on Thursday, The Fly reports. The firm set a “buy” rating on the medical technology company’s stock.
Other equities analysts have also issued reports about the stock. Needham & Company LLC restated a “hold” rating on shares of Stryker Corp. in a report on Sunday, July 24th. Jefferies Group reiterated a “hold” rating and set a $120.00 target price (up from $113.00) on shares of Stryker Corp. in a report on Monday, July 25th. Piper Jaffray Cos. increased their target price on shares of Stryker Corp. from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, July 22nd. Zacks Investment Research upgraded shares of Stryker Corp. from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a report on Tuesday, June 21st. Finally, Brean Capital reiterated a “buy” rating and set a $125.00 target price (up from $121.00) on shares of Stryker Corp. in a report on Monday, July 25th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $114.91.
Stryker Corp. (NYSE:SYK) traded down 0.30% during trading on Thursday, reaching $113.58. 892,506 shares of the company’s stock traded hands. Stryker Corp. has a 12-month low of $86.68 and a 12-month high of $123.55. The company has a market cap of $42.51 billion, a PE ratio of 26.78 and a beta of 0.72. The company has a 50 day moving average price of $115.19 and a 200-day moving average price of $114.05.
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Stryker Corp. (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 21st. The medical technology company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.37 by $0.02. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.79 billion. On average, equities research analysts forecast that Stryker Corp. will post $5.76 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Wednesday, September 28th. Stryker Corp.’s dividend payout ratio (DPR) is 35.85%.
In related news, VP Yin C. Becker sold 1,111 shares of the firm’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $117.00, for a total value of $129,987.00. Following the completion of the sale, the vice president now owns 16,939 shares in the company, valued at $1,981,863. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 12,000 shares of the firm’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $122.48, for a total transaction of $1,469,760.00. Following the completion of the sale, the director now owns 193,142 shares of the company’s stock, valued at approximately $23,656,032.16. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. Ngam Advisors L.P. boosted its stake in shares of Stryker Corp. by 25.6% in the first quarter. Ngam Advisors L.P. now owns 24,311 shares of the medical technology company’s stock valued at $2,608,000 after buying an additional 4,955 shares during the period. NN Investment Partners Holdings N.V. bought a new stake in shares of Stryker Corp. during the first quarter valued at approximately $1,657,000. Bessemer Group Inc. boosted its stake in shares of Stryker Corp. by 0.7% in the first quarter. Bessemer Group Inc. now owns 10,140 shares of the medical technology company’s stock valued at $1,088,000 after buying an additional 73 shares during the period. Aviva PLC boosted its stake in shares of Stryker Corp. by 1.4% in the first quarter. Aviva PLC now owns 176,356 shares of the medical technology company’s stock valued at $18,921,000 after buying an additional 2,400 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Stryker Corp. by 59.5% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,276 shares of the medical technology company’s stock valued at $673,000 after buying an additional 2,340 shares during the period. Hedge funds and other institutional investors own 75.49% of the company’s stock.
Stryker Corp. Company Profile
Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.
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