Stryker (NYSE:SYK) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Stryker (NYSE:SYK) in a report published on Wednesday, Benzinga reports.

Other equities research analysts have also recently issued reports about the company. Citigroup raised their target price on Stryker from $362.00 to $406.00 and gave the company a buy rating in a research report on Wednesday, April 3rd. StockNews.com upgraded Stryker from a hold rating to a buy rating in a report on Tuesday, January 23rd. Canaccord Genuity Group upgraded Stryker from a hold rating to a buy rating and lifted their price objective for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. Wells Fargo & Company lifted their price objective on Stryker from $336.00 to $364.00 and gave the stock an overweight rating in a report on Wednesday, January 31st. Finally, Roth Mkm lifted their price objective on Stryker from $345.00 to $348.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Stryker currently has an average rating of Moderate Buy and an average price target of $357.05.

Stryker Price Performance

Shares of SYK opened at $328.14 on Wednesday. Stryker has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The company has a market capitalization of $124.85 billion, a P/E ratio of 37.46, a P/E/G ratio of 2.71 and a beta of 0.91. The business’s 50-day moving average is $348.05 and its two-hundred day moving average is $316.78.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Stryker had a return on equity of 23.44% and a net margin of 16.03%. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. During the same period last year, the firm earned $2.14 EPS. The company’s quarterly revenue was up 9.7% on a year-over-year basis. Research analysts predict that Stryker will post 11.86 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Wednesday, March 27th. Stryker’s payout ratio is 36.53%.

Insiders Place Their Bets

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the transaction, the director now owns 14,242 shares in the company, valued at $4,856,522. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders sold a total of 212,109 shares of company stock worth $72,845,768 over the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Stryker by 0.5% in the third quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock valued at $8,379,967,000 after acquiring an additional 143,631 shares during the last quarter. Greenleaf Trust lifted its position in Stryker by 0.6% in the first quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock valued at $6,655,089,000 after acquiring an additional 108,080 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after acquiring an additional 642,178 shares during the last quarter. FMR LLC lifted its position in Stryker by 2.5% in the third quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock valued at $1,632,127,000 after acquiring an additional 144,208 shares during the last quarter. Finally, Morgan Stanley lifted its position in Stryker by 4.4% in the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after acquiring an additional 223,728 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.