Stryker Co. (SYK) Given Average Recommendation of “Hold” by Brokerages
Stryker Co. (NYSE:SYK) has received an average recommendation of “Hold” from the twenty ratings firms that are currently covering the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $135.38.
A number of analysts have weighed in on SYK shares. Needham & Company LLC restated a “sell” rating on shares of Stryker in a research note on Wednesday, January 25th. Oppenheimer Holdings Inc. set a $135.00 price target on Stryker and gave the company a “hold” rating in a research note on Saturday, April 8th. Wells Fargo & Co restated an “outperform” rating and issued a $134.50 price target on shares of Stryker in a research note on Saturday, January 28th. Jefferies Group LLC raised their price target on Stryker from $120.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday, January 25th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target (up from $135.00) on shares of Stryker in a research note on Wednesday, April 26th.
In related news, insider Timothy J. Scannell sold 13,322 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $135.89, for a total transaction of $1,810,326.58. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 7.80% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SYK. Independent Advisor Alliance bought a new position in Stryker during the fourth quarter worth about $107,000. FUKOKU MUTUAL LIFE INSURANCE Co bought a new position in Stryker during the fourth quarter worth about $108,000. Bollard Group LLC raised its position in Stryker by 0.4% in the first quarter. Bollard Group LLC now owns 829 shares of the medical technology company’s stock worth $109,000 after buying an additional 3 shares in the last quarter. Salem Investment Counselors Inc. bought a new position in Stryker during the third quarter worth about $116,000. Finally, Baystate Wealth Management LLC raised its position in Stryker by 2.1% in the first quarter. Baystate Wealth Management LLC now owns 1,066 shares of the medical technology company’s stock worth $139,000 after buying an additional 22 shares in the last quarter. 75.29% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Stryker (NYSE:SYK) traded up 0.91% on Tuesday, reaching $139.90. The company had a trading volume of 1,446,576 shares. The firm’s 50 day moving average is $133.77 and its 200 day moving average is $125.09. Stryker has a 12 month low of $106.48 and a 12 month high of $140.30. The firm has a market capitalization of $52.29 billion, a PE ratio of 31.44 and a beta of 0.80.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 25th. The medical technology company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.05. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Stryker had a return on equity of 23.86% and a net margin of 14.54%. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period last year, the firm earned $1.24 earnings per share. On average, equities research analysts expect that Stryker will post $6.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, June 30th will be issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Wednesday, June 28th. Stryker’s dividend payout ratio is currently 39.08%.
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Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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