Zacks Investment Research upgraded shares of Stryker Corporation (NYSE:SYK) from a hold rating to a buy rating in a report published on Monday, July 17th. Zacks Investment Research currently has $163.00 price target on the medical technology company’s stock.
According to Zacks, “We believe Stryker's innovative product pipeline will be a key catalyst in the near term. Additionally, growing adoption of MAKO will drive sales in the orthopedic and reconstructive surgery market. Over the past six months, Stryker outperformed the broader industry trends with respect to price performance. Additionally, the acquisitions of Sage Products and Physio Control and the tie-up with Indo UK Institute of Health's Medicity Program are major positives. On the flip side, China might prove to be a challenging market for the company. Coming to supply-side headwinds, the company has been grappling with issues in the spine business for long. We believe this may prove to be a major drawback in the quarters ahead. Additionally, challenging global economic conditions raise concerns. Stryker ended the first quarter of 2017 on a solid note, squarely beating the Zacks Consensus Estimate.”
Other equities analysts also recently issued research reports about the company. BMO Capital Markets reaffirmed a hold rating and issued a $125.00 price objective on shares of Stryker Corporation in a research report on Tuesday, April 11th. Oppenheimer Holdings, Inc. set a $135.00 price objective on Stryker Corporation and gave the company a hold rating in a research report on Saturday, April 8th. Jefferies Group LLC reaffirmed a hold rating and issued a $132.00 price objective on shares of Stryker Corporation in a research report on Thursday, April 13th. Piper Jaffray Companies reaffirmed an overweight rating and issued a $148.00 price objective on shares of Stryker Corporation in a research report on Monday, April 17th. Finally, Barclays PLC reissued a sell rating and set a $133.00 price target on shares of Stryker Corporation in a research report on Thursday, April 27th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $143.34.
Shares of Stryker Corporation (NYSE SYK) opened at 147.80 on Monday. Stryker Corporation has a 52 week low of $106.48 and a 52 week high of $148.15. The stock has a market cap of $55.24 billion, a price-to-earnings ratio of 33.21 and a beta of 0.79. The company has a 50-day moving average price of $142.41 and a 200-day moving average price of $133.92.
Stryker Corporation (NYSE:SYK) last announced its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.02. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. Stryker Corporation had a return on equity of 24.58% and a net margin of 14.22%. Stryker Corporation’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.39 EPS. Equities analysts anticipate that Stryker Corporation will post $6.43 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Wednesday, June 28th. Stryker Corporation’s dividend payout ratio (DPR) is presently 37.95%.
In other Stryker Corporation news, insider Timothy J. Scannell sold 13,322 shares of the stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $135.89, for a total value of $1,810,326.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Floyd sold 7,381 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $144.70, for a total value of $1,068,030.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,008 shares of company stock valued at $5,669,088. 7.40% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bollard Group LLC boosted its position in shares of Stryker Corporation by 0.4% in the first quarter. Bollard Group LLC now owns 829 shares of the medical technology company’s stock valued at $109,000 after buying an additional 3 shares during the last quarter. Baystate Wealth Management LLC boosted its position in shares of Stryker Corporation by 2.1% in the first quarter. Baystate Wealth Management LLC now owns 1,066 shares of the medical technology company’s stock valued at $139,000 after buying an additional 22 shares during the last quarter. James Investment Research Inc. purchased a new position in shares of Stryker Corporation during the second quarter valued at about $155,000. Guardian Life Insurance Co. of America boosted its position in shares of Stryker Corporation by 0.8% in the first quarter. Guardian Life Insurance Co. of America now owns 1,199 shares of the medical technology company’s stock valued at $158,000 after buying an additional 9 shares during the last quarter. Finally, Assetmark Inc. boosted its position in shares of Stryker Corporation by 0.3% in the first quarter. Assetmark Inc. now owns 1,274 shares of the medical technology company’s stock valued at $168,000 after buying an additional 4 shares during the last quarter. Hedge funds and other institutional investors own 74.26% of the company’s stock.
About Stryker Corporation
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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