Stryker Corporation (SYK) Receives Consensus Rating of “Hold” from Brokerages
Stryker Corporation (NYSE:SYK) has earned a consensus recommendation of “Hold” from the twenty-three ratings firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $145.64.
Several research firms have recently issued reports on SYK. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $161.00 price target on shares of Stryker Corporation in a research note on Monday, October 2nd. Stifel Nicolaus raised their price target on shares of Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, July 28th. BidaskClub downgraded shares of Stryker Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research downgraded shares of Stryker Corporation from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Finally, Canaccord Genuity reissued a “buy” rating and set a $155.00 target price (down previously from $158.00) on shares of Stryker Corporation in a research note on Thursday, August 24th.
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Stryker Corporation (NYSE SYK) traded up 0.78% during mid-day trading on Friday, reaching $150.49. 1,274,442 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $144.25 and a 200-day moving average of $141.08. The firm has a market cap of $56.29 billion, a price-to-earnings ratio of 33.59 and a beta of 0.80. Stryker Corporation has a 12 month low of $106.48 and a 12 month high of $150.51.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.02. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.39 earnings per share. Analysts anticipate that Stryker Corporation will post $6.45 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s payout ratio is 37.95%.
In other news, insider Lonny J. Carpenter sold 5,000 shares of Stryker Corporation stock in a transaction dated 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 transaction, the insider now directly owns 88,207 shares in the company, valued at $12,909,976.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Graham A. Mclean sold 1,124 shares of Stryker Corporation stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total transaction of $164,396.24. Following the transaction, the insider now owns 8,983 shares of the company’s stock, valued at $1,313,853.58. The disclosure for this sale can be found here. 7.40% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SYK. Acrospire Investment Management LLC acquired a new position in shares of Stryker Corporation during the second quarter valued at about $111,000. Bollard Group LLC grew its holdings in shares of Stryker Corporation by 0.4% during the second quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock valued at $115,000 after buying an additional 3 shares during the last quarter. Motco grew its holdings in shares of Stryker Corporation by 50.7% during 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. Bruderman Asset Management LLC acquired a new position in shares of Stryker Corporation during the second quarter valued at about $150,000. Finally, James Investment Research Inc. acquired a new position in shares of Stryker Corporation during the second quarter valued at about $155,000. Hedge funds and other institutional investors own 74.10% 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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