Piper Jaffray Companies reissued their overweight rating on shares of Stryker Corporation (NYSE:SYK) in a research report released on Thursday. The firm currently has a $148.00 price objective on the medical technology company’s stock.
Other analysts have also recently issued research reports about the stock. Deutsche Bank AG reiterated a buy rating and issued a $148.00 price target (up previously from $135.00) on shares of Stryker Corporation in a report on Saturday, April 29th. BidaskClub cut shares of Stryker Corporation from a strong-buy rating to a buy rating in a report on Tuesday, June 13th. Zacks Investment Research upgraded shares of Stryker Corporation from a hold rating to a buy rating and set a $163.00 price target on the stock in a report on Monday, July 17th. Stifel Nicolaus lifted their price target on shares of Stryker Corporation from $151.00 to $158.00 and gave the company a buy rating in a report on Friday, July 28th. Finally, Cowen and Company reiterated a buy rating and issued a $160.00 price target (up previously from $150.00) on shares of Stryker Corporation in a report on Sunday, July 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $144.97.
Shares of Stryker Corporation (NYSE SYK) traded up 0.92% during trading on Thursday, reaching $140.05. 758,487 shares of the company traded hands. The company has a 50 day moving average price of $144.79 and a 200 day moving average price of $136.91. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $148.84. The firm has a market capitalization of $52.39 billion, a price-to-earnings ratio of 31.26 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last issued its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.02. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter last year, the business earned $1.39 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that Stryker Corporation will post $6.50 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s dividend payout ratio is presently 37.95%.
In other Stryker Corporation news, insider Graham A. Mclean sold 1,124 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total value of $164,396.24. Following the completion of the transaction, the insider now 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 this link. Also, insider David Floyd sold 19,305 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total value of $2,790,730.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,810 shares of company stock valued at $4,754,958. 7.40% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. Personal Capital Advisors Corp acquired a new position in shares of Stryker Corporation during the first quarter worth $267,000. JPMorgan Chase & Co. raised its position in shares of Stryker Corporation by 276.9% in the first quarter. JPMorgan Chase & Co. now owns 269,555 shares of the medical technology company’s stock worth $35,487,000 after buying an additional 198,035 shares during the period. BB&T Corp raised its position in shares of Stryker Corporation by 5.7% in the second quarter. BB&T Corp now owns 56,546 shares of the medical technology company’s stock worth $7,847,000 after buying an additional 3,060 shares during the period. British Columbia Investment Management Corp raised its position in shares of Stryker Corporation by 10.7% in the first quarter. British Columbia Investment Management Corp now owns 133,596 shares of the medical technology company’s stock worth $17,588,000 after buying an additional 12,871 shares during the period. Finally, Hartland & Co. LLC raised its position in shares of Stryker Corporation by 1.4% in the first quarter. Hartland & Co. LLC now owns 1,860 shares of the medical technology company’s stock worth $245,000 after buying an additional 25 shares during the period. 73.79% of the stock is owned by institutional investors and hedge funds.
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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