Stryker Corporation (SYK) Given a $160.00 Price Target by Cowen and Company Analysts
Stryker Corporation (NYSE:SYK) has been given a $160.00 price target by Cowen and Company in a research report issued on Friday. The brokerage presently has a “buy” rating on the medical technology company’s stock. Cowen and Company’s target price points to a potential upside of 7.38% from the stock’s current price.
SYK has been the topic of a number of other research reports. Piper Jaffray Companies reissued an “overweight” rating and issued a $148.00 target price on shares of Stryker Corporation in a report on Thursday, August 24th. Needham & Company LLC raised Stryker Corporation from an “underperform” rating to a “hold” rating in a report on Friday, August 25th. Cantor Fitzgerald initiated coverage on Stryker Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $153.00 target price on the stock. Morgan Stanley reissued an “overweight” rating and issued a $160.00 target price (up previously from $155.00) on shares of Stryker Corporation in a report on Monday, July 10th. Finally, Zacks Investment Research raised Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Stryker Corporation currently has a consensus rating of “Hold” and a consensus target price of $146.78.
Stryker Corporation (NYSE SYK) traded up 0.47% during midday trading on Friday, hitting $149.00. The stock had a trading volume of 1,129,048 shares. Stryker Corporation has a 52 week low of $106.48 and a 52 week high of $149.23. The firm has a market cap of $55.74 billion, a price-to-earnings ratio of 33.26 and a beta of 0.80. The firm has a 50 day moving average of $142.34 and a 200 day moving average of $139.87.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.51 by $0.02. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period last year, the firm posted $1.39 earnings per share. Stryker Corporation’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that Stryker Corporation will post $6.46 EPS for the current year.
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In other Stryker Corporation news, insider David Floyd sold 19,305 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total transaction of $2,790,730.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Graham A. Mclean sold 1,124 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total value of $164,396.24. Following the transaction, the insider now owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. Insiders have sold 25,429 shares of company stock valued at $3,686,927 in the last quarter. 7.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYK. Carnick & Kubik Group LLC purchased a new position in Stryker Corporation during the 1st quarter valued at approximately $1,016,000. Swiss National Bank grew its holdings in Stryker Corporation by 22.1% during the 1st quarter. Swiss National Bank now owns 1,502,071 shares of the medical technology company’s stock valued at $197,748,000 after buying an additional 272,300 shares in the last quarter. World Asset Management Inc grew its holdings in Stryker Corporation by 19.4% during the 1st quarter. World Asset Management Inc now owns 34,674 shares of the medical technology company’s stock valued at $4,565,000 after buying an additional 5,627 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in Stryker Corporation by 10.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,026,598 shares of the medical technology company’s stock valued at $135,152,000 after buying an additional 97,027 shares in the last quarter. Finally, BARING ASSET MANAGEMENT Ltd grew its holdings in Stryker Corporation by 25.0% during the 1st quarter. BARING ASSET MANAGEMENT Ltd now owns 5,761 shares of the medical technology company’s stock valued at $758,000 after buying an additional 1,151 shares in the last quarter. Institutional investors and hedge funds own 74.13% 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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