Stryker Corp. (SYK) Receives New Coverage from Analysts at SunTrust Banks Inc.
Investment analysts at SunTrust Banks Inc. began coverage on shares of Stryker Corp. (NYSE:SYK) in a note issued to investors on Thursday, The Fly reports. The brokerage set a “buy” rating on the medical technology company’s stock.
Several other research analysts have also recently weighed in on SYK. Jefferies Group reaffirmed a “hold” rating and issued a $120.00 price target (up previously from $113.00) on shares of Stryker Corp. in a report on Monday, July 25th. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $124.00 price target (up previously from $110.00) on shares of Stryker Corp. in a report on Tuesday, July 19th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $119.00 target price on shares of Stryker Corp. in a research note on Friday, July 22nd. Brean Capital reissued a “buy” rating and issued a $125.00 target price (up previously from $121.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $130.00 target price on shares of Stryker Corp. in a research note on Sunday, July 24th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $114.91.
Shares of Stryker Corp. (NYSE:SYK) traded down 0.30% on Thursday, reaching $113.58. The company’s stock had a trading volume of 867,171 shares. The stock has a 50 day moving average of $115.19 and a 200-day moving average of $114.05. The firm has a market cap of $42.51 billion, a price-to-earnings ratio of 26.78 and a beta of 0.72. Stryker Corp. has a 12 month low of $86.68 and a 12 month high of $123.55.
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Stryker Corp. (NYSE:SYK) last released its quarterly earnings results on Thursday, July 21st. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.02. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%. On average, analysts anticipate that Stryker Corp. will post $5.76 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Wednesday, September 28th. Stryker Corp.’s dividend payout ratio is 35.85%.
In related news, Director Ronda E. Stryker sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $117.56, for a total transaction of $2,116,080.00. Following the completion of the sale, the director now owns 193,142 shares of the company’s stock, valued at $22,705,773.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $110.81, for a total transaction of $664,860.00. Following the sale, the director now directly owns 193,142 shares of the company’s stock, valued at approximately $21,402,065.02. The disclosure for this sale can be found here. Company insiders own 7.80% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. LSV Asset Management purchased a new stake in shares of Stryker Corp. during the second quarter valued at $107,000. Global X Management Co. LLC increased its stake in shares of Stryker Corp. by 235.8% in the second quarter. Global X Management Co. LLC now owns 994 shares of the medical technology company’s stock valued at $119,000 after buying an additional 698 shares during the period. Carroll Financial Associates Inc. increased its stake in shares of Stryker Corp. by 78.0% in the second quarter. Carroll Financial Associates Inc. now owns 1,086 shares of the medical technology company’s stock valued at $130,000 after buying an additional 476 shares during the period. CWM LLC purchased a new stake in shares of Stryker Corp. during the second quarter valued at $150,000. Finally, Daiwa SB Investments Ltd. purchased a new stake in shares of Stryker Corp. during the third quarter valued at $163,000. 75.49% of the stock is owned by institutional investors.
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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