Stryker Co. (SYK) Given Average Recommendation of “Hold” by Analysts
Stryker Co. (NYSE:SYK) has been given an average recommendation of “Hold” by the twenty-two brokerages that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $134.79.
Several equities analysts have recently weighed in on the stock. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Stryker in a report on Monday. BidaskClub lowered shares of Stryker from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Citigroup Inc. upped their price objective on shares of Stryker from $114.00 to $125.00 and gave the company a “sell” rating in a report on Friday, June 9th. BMO Capital Markets reiterated a “hold” rating and set a $125.00 price objective on shares of Stryker in a report on Tuesday, April 11th. Finally, Barclays PLC reiterated a “sell” rating and set a $133.00 price objective on shares of Stryker in a report on Thursday, April 27th.
Shares of Stryker (NYSE:SYK) traded down 0.60% on Monday, reaching $141.38. The company’s stock had a trading volume of 1,307,168 shares. 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 company has a market cap of $52.84 billion, a PE ratio of 31.77 and a beta of 0.81.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 25th. The medical technology company reported $1.48 earnings per share for the quarter, beating the 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 firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the business earned $1.24 earnings per share. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. Analysts predict that Stryker will post $6.43 earnings per share for the current 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 given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Wednesday, June 28th. Stryker’s dividend payout ratio is currently 38.20%.
In other news, insider David Floyd sold 7,381 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $144.70, for a total transaction of $1,068,030.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Timothy J. Scannell sold 13,322 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were 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 owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Personal Capital Advisors Corp bought a new position in Stryker during the first quarter worth $267,000. Asset Management One Co. Ltd. increased its position in 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 in the last quarter. Aviva PLC increased its position in 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 in the last quarter. Massmutual Trust Co. FSB ADV bought a new position in Stryker during the fourth quarter worth $3,069,000. Finally, Dimensional Fund Advisors LP increased its position in 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 in the last quarter. 74.26% of the stock is owned by hedge funds and other institutional investors.
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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