Stryker (SYK) Raised to Market Perform at BMO Capital Markets
Stryker (NYSE:SYK) was upgraded by stock analysts at BMO Capital Markets to a “market perform” rating in a research note issued to investors on Tuesday, The Fly reports. The brokerage presently has a $163.00 price objective on the medical technology company’s stock. BMO Capital Markets’ price target indicates a potential upside of 6.74% from the stock’s current price.
A number of other equities research analysts also recently weighed in on SYK. Needham & Company LLC reiterated a “hold” rating on shares of Stryker in a research note on Thursday, December 7th. Royal Bank of Canada reiterated a “buy” rating and set a $155.00 price target on shares of Stryker in a research note on Monday, October 2nd. BidaskClub upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. SunTrust Banks reiterated a “buy” rating and set a $161.00 price target on shares of Stryker in a research note on Monday, October 2nd. Finally, Oppenheimer set a $156.00 price target on shares of Stryker and gave the stock a “hold” rating in a research note on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $153.19.
Shares of Stryker (NYSE SYK) traded up $0.78 during mid-day trading on Tuesday, reaching $152.71. 826,100 shares of the company were exchanged, compared to its average volume of 1,177,418. Stryker has a fifty-two week low of $116.27 and a fifty-two week high of $160.62. The company has a market capitalization of $56,857.92, a price-to-earnings ratio of 24.08, a P/E/G ratio of 2.39 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.37 and a quick ratio of 1.61.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $155.34, for a total value of $776,700.00. Following the sale, the insider now owns 83,207 shares in the company, valued at approximately $12,925,375.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.40% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of SYK. Renaissance Technologies LLC acquired a new position in Stryker during the 1st quarter worth about $948,000. Nomura Asset Management Co. Ltd. lifted its position in Stryker by 201.5% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 407,978 shares of the medical technology company’s stock worth $53,711,000 after buying an additional 272,680 shares in the last quarter. Bath Savings Trust Co lifted its position in Stryker by 5.1% during the 2nd quarter. Bath Savings Trust Co now owns 71,879 shares of the medical technology company’s stock worth $9,975,000 after buying an additional 3,458 shares in the last quarter. DnB Asset Management AS lifted its position in Stryker by 0.5% during the 2nd quarter. DnB Asset Management AS now owns 36,995 shares of the medical technology company’s stock worth $5,134,000 after buying an additional 200 shares in the last quarter. Finally, Xact Kapitalforvaltning AB lifted its position in Stryker by 0.8% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 52,681 shares of the medical technology company’s stock worth $7,311,000 after buying an additional 427 shares in the last quarter. Institutional investors own 74.97% of the company’s stock.
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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