Oppenheimer Holdings, Inc. Reiterates “Hold” Rating for Stryker Co. (SYK)
Stryker Co. (NYSE:SYK)‘s stock had its “hold” rating reiterated by analysts at Oppenheimer Holdings, Inc. in a report released on Monday.
Other equities analysts also recently issued reports about the stock. Deutsche Bank AG restated a “buy” rating and issued a $148.00 price target (up from $135.00) on shares of Stryker in a research note on Saturday, April 29th. Canaccord Genuity restated a “buy” rating and issued a $137.00 price target on shares of Stryker in a research note on Monday, February 27th. BidaskClub downgraded shares of Stryker from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Jefferies Group LLC restated a “hold” rating and issued a $132.00 price target on shares of Stryker in a research note on Thursday, April 13th. Finally, BMO Capital Markets restated a “hold” rating and issued a $125.00 price target on shares of Stryker in a research note on Tuesday, April 11th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $134.29.
Stryker (NYSE SYK) traded down 0.94% during trading on Monday, hitting $140.91. 776,858 shares of the stock were exchanged. Stryker has a 52 week low of $106.48 and a 52 week high of $145.62. The firm has a 50-day moving average of $138.95 and a 200-day moving average of $128.75. The stock has a market capitalization of $52.67 billion, a price-to-earnings ratio of 31.67 and a beta of 0.81.
Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, April 25th. The medical technology company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.05. Stryker had a net margin of 15.03% and a return on equity of 18.50%. The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the prior year, the company posted $1.24 earnings per share. Stryker’s revenue was up 18.4% compared to the same quarter last year. Equities research analysts anticipate that Stryker will post $6.43 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, June 30th will be issued a $0.425 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.20%. Stryker’s dividend payout ratio (DPR) is currently 38.20%.
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In other news, insider David Floyd sold 7,381 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $144.70, for a total value of $1,068,030.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Timothy J. Scannell sold 13,322 shares of the 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 disclosure for this sale can be found here. 7.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SYK. Personal Capital Advisors Corp acquired a new position in shares of Stryker during the first quarter worth about $267,000. Asset Management One Co. Ltd. raised its position in shares of Stryker by 1,227.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 601,118 shares of the medical technology company’s stock worth $72,060,000 after buying an additional 555,841 shares during the period. Aviva PLC raised its position in shares of Stryker by 20.9% in the fourth quarter. Aviva PLC now owns 246,275 shares of the medical technology company’s stock worth $29,519,000 after buying an additional 42,537 shares during the period. Massmutual Trust Co. FSB ADV acquired a new position in shares of Stryker during the fourth quarter worth about $3,069,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Stryker by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 602,507 shares of the medical technology company’s stock worth $72,189,000 after buying an additional 19,584 shares during the period. Institutional investors and hedge funds own 74.26% of the company’s stock.
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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