Stryker (SYK) Rating Reiterated by Needham & Company LLC
Stryker (NYSE:SYK)‘s stock had its “hold” rating reaffirmed by stock analysts at Needham & Company LLC in a report released on Thursday.
The analysts wrote, “SYK is acquiring ENTL for $24.00 per share (a 50% premium) or $662M of cash which is 7.1x consensus 2017E sales. ENTL is the leader in minimally invasive surgical (MIS) treatment of ear, nose, and throat (ENT) diseases and manufactures products that specifically cover nasal procedures. We think that the deal makes strategic and financial sense for SYK since it broadens SYK’s ENT offering and we expect ENTL’s sustained double-digit growth to be accretive to SYK’s overall growth in coming years.””
SYK has been the subject of a number of other research reports. Piper Jaffray Companies reissued an “overweight” rating and issued a $148.00 price target on shares of Stryker in a report on Thursday, August 24th. Robert W. Baird raised Stryker from a “neutral” rating to an “outperform” rating and increased their price target for the company from $161.00 to $173.00 in a report on Thursday, November 16th. BidaskClub downgraded Stryker from a “buy” rating to a “hold” rating in a report on Saturday, August 26th. ValuEngine raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Finally, Zacks Investment Research downgraded Stryker from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $152.10.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.02. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. Stryker had a return on equity of 24.11% and a net margin of 14.67%. Stryker’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.39 earnings per share. sell-side analysts anticipate that Stryker will post 6.47 earnings per share for the current year.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total transaction of $776,700.00. Following the sale, the insider now directly owns 83,207 shares in the company, valued at approximately $12,925,375.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.40% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. AXA boosted its stake in shares of Stryker by 6.5% during the 3rd quarter. AXA now owns 516,156 shares of the medical technology company’s stock worth $73,304,000 after acquiring an additional 31,375 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Stryker during the 3rd quarter worth $538,000. Public Employees Retirement System of Ohio boosted its stake in shares of Stryker by 0.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 241,591 shares of the medical technology company’s stock worth $34,311,000 after acquiring an additional 833 shares in the last quarter. Crestwood Advisors Group LLC boosted its stake in shares of Stryker by 1.4% during the 3rd quarter. Crestwood Advisors Group LLC now owns 166,336 shares of the medical technology company’s stock worth $23,623,000 after acquiring an additional 2,260 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Stryker by 9.3% during the 3rd quarter. Cetera Investment Advisers now owns 4,883 shares of the medical technology company’s stock worth $689,000 after acquiring an additional 415 shares in the last quarter. Hedge funds and other institutional investors own 74.97% of the company’s stock.
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Stryker 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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