Stryker Corporation (NYSE:SYK) PT Raised to $155.00 at Royal Bank Of Canada
Stryker Corporation (NYSE:SYK) had its target price lifted by Royal Bank Of Canada from $140.00 to $155.00 in a research note published on Friday morning, MarketBeat reports. Royal Bank Of Canada currently has an outperform rating on the medical technology company’s stock.
SYK has been the subject of several other research reports. Zacks Investment Research downgraded Stryker Corporation from a buy rating to a hold rating in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. set a $135.00 price objective on Stryker Corporation and gave the company a hold rating in a report on Saturday, April 8th. BMO Capital Markets reissued a hold rating and issued a $140.00 price objective on shares of Stryker Corporation in a report on Tuesday, July 11th. Citigroup Inc. increased their price objective on Stryker Corporation from $114.00 to $125.00 and gave the company a sell rating in a report on Friday, June 9th. Finally, Jefferies Group LLC reissued a hold rating and issued a $132.00 price objective on shares of Stryker Corporation in a report on Friday, June 30th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Stryker Corporation presently has a consensus rating of Hold and an average target price of $144.03.
Stryker Corporation (NYSE SYK) opened at 147.004 on Friday. The stock has a 50 day moving average of $142.56 and a 200-day moving average of $134.25. The company has a market cap of $54.99 billion, a price-to-earnings ratio of 32.813 and a beta of 0.79. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $148.15.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the firm posted $1.39 EPS. The business’s revenue was up 6.1% on a year-over-year basis. On average, analysts forecast that Stryker Corporation will post $6.43 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, June 30th were given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 1.16%. The ex-dividend date was Wednesday, June 28th. Stryker Corporation’s payout ratio is 37.95%.
In other Stryker Corporation news, insider David Floyd sold 19,305 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total transaction of $2,790,730.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 7.40% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of SYK. Bollard Group LLC boosted its position in 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 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 Stryker Corporation during the second quarter valued at $155,000. Guardian Life Insurance Co. of America boosted its position in 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 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 74.07% 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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