Stryker Corporation (SYK) Given Hold Rating at Needham & Company LLC
Stryker Corporation (NYSE:SYK)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a research report issued on Friday.
Several other analysts also recently weighed in on the company. Royal Bank Of Canada restated a “buy” rating and issued a $155.00 price target on shares of Stryker Corporation in a research note on Friday, September 1st. Argus reiterated a “buy” rating and set a $160.00 target price on shares of Stryker Corporation in a research note on Tuesday, August 29th. Zacks Investment Research downgraded Stryker Corporation from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. BMO Capital Markets reiterated a “hold” rating and set a $140.00 target price on shares of Stryker Corporation in a research note on Tuesday, July 11th. Finally, Cowen and Company set a $160.00 target price on Stryker Corporation and gave the company a “buy” rating in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. Stryker Corporation currently has a consensus rating of “Hold” and a consensus price target of $151.52.
Stryker Corporation (NYSE:SYK) traded up $1.75 during trading on Friday, hitting $156.18. The company had a trading volume of 1,153,984 shares, compared to its average volume of 1,302,000. The company has a market cap of $58,014.32, a PE ratio of 24.57, a P/E/G ratio of 2.44 and a beta of 0.79. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.63.
Stryker Corporation (NYSE:SYK) last posted its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.02. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.97 billion. Stryker Corporation had a return on equity of 24.11% and a net margin of 14.67%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.39 EPS. research analysts forecast that Stryker Corporation will post 6.47 EPS for the current year.
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In related news, insider Graham A. Mclean sold 1,124 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total value of $164,396.24. Following the transaction, the insider now directly owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.40% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in SYK. Acrospire Investment Management LLC bought a new position in Stryker Corporation in the 2nd quarter worth $111,000. Bollard Group LLC raised its holdings in Stryker Corporation by 0.4% in the 2nd quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 3 shares during the period. Motco raised its holdings in Stryker Corporation by 50.7% in the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 278 shares during the period. Bruderman Asset Management LLC bought a new position in Stryker Corporation in the 2nd quarter worth $150,000. Finally, James Investment Research Inc. bought a new position in Stryker Corporation in the 2nd quarter worth $155,000. 74.00% of the stock is currently owned by institutional investors.
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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