Stryker Corporation (SYK) Raised to Buy at BidaskClub
Stryker Corporation (NYSE:SYK) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.
A number of other research analysts have also recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Stryker Corporation from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, June 21st. Needham & Company LLC reissued a “sell” rating on shares of Stryker Corporation in a research report on Wednesday, April 26th. Cantor Fitzgerald assumed coverage on shares of Stryker Corporation in a research report on Thursday, June 29th. They set a “neutral” rating and a $153.00 target price on the stock. Zacks Investment Research raised shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a research report on Monday, July 17th. Finally, Cowen and Company set a $150.00 target price on shares of Stryker Corporation and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $144.03.
Shares of Stryker Corporation (SYK) opened at 144.29 on Thursday. The firm’s 50-day moving average is $144.61 and its 200-day moving average is $136.38. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $148.84. The firm has a market capitalization of $53.97 billion, a price-to-earnings ratio of 32.21 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. Stryker Corporation’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.39 earnings per share. Equities research analysts forecast that Stryker Corporation will post $6.50 EPS for the current fiscal year.
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In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the completion of the sale, the insider now owns 88,207 shares in the company, valued at $12,909,976.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David Floyd sold 19,305 shares of the business’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $144.56, for a total transaction of $2,790,730.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,810 shares of company stock valued at $4,754,958. Insiders own 7.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Bollard Group LLC raised its stake in Stryker Corporation by 0.4% in the first quarter. Bollard Group LLC now owns 829 shares of the medical technology company’s stock valued at $109,000 after buying an additional 3 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in Stryker Corporation during the second quarter valued at $111,000. Motco raised its stake in Stryker Corporation by 50.7% in the second quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after buying an additional 278 shares during the last quarter. Baystate Wealth Management LLC raised its stake in Stryker Corporation by 2.1% in the first quarter. Baystate Wealth Management LLC now owns 1,066 shares of the medical technology company’s stock valued at $139,000 after buying an additional 22 shares during the last quarter. Finally, Bruderman Asset Management LLC acquired a new stake in Stryker Corporation during the second quarter valued at $150,000. Hedge funds and other institutional investors own 73.79% of the company’s stock.
Stryker Corporation Company Profile
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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