Stryker Corporation (NYSE:SYK) PT Raised to $158.00 at Stifel Nicolaus
Stryker Corporation (NYSE:SYK) had its target price upped by Stifel Nicolaus from $151.00 to $158.00 in a research report sent to investors on Friday, Marketbeat reports. They currently have a buy rating on the medical technology company’s stock.
Several other research analysts have also issued reports on the company. Morgan Stanley increased their price objective on Stryker Corporation from $145.00 to $155.00 and gave the stock an overweight rating in a research note on Wednesday, June 21st. Needham & Company LLC reiterated a sell rating on shares of Stryker Corporation in a research note on Wednesday, April 26th. Jefferies Group LLC reiterated a hold rating and set a $132.00 price objective on shares of Stryker Corporation in a research note on Thursday, April 13th. Cantor Fitzgerald began coverage on Stryker Corporation in a research note on Thursday, June 29th. They set a neutral rating and a $153.00 price objective for the company. Finally, BidaskClub lowered Stryker Corporation from a strong-buy rating to a buy rating in a research note on Tuesday, June 13th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. Stryker Corporation currently has an average rating of Hold and a consensus price target of $144.03.
Stryker Corporation (NYSE:SYK) traded up 0.30% during mid-day trading on Friday, reaching $147.54. 255,075 shares of the company’s stock traded hands. Stryker Corporation has a 12 month low of $106.48 and a 12 month high of $148.15. The firm’s 50-day moving average price is $142.56 and its 200 day moving average price is $134.25. The stock has a market capitalization of $55.19 billion, a PE ratio of 32.93 and a beta of 0.79.
Stryker Corporation (NYSE:SYK) last issued its earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. Stryker Corporation’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.39 earnings per share. Equities research analysts predict that Stryker Corporation will post $6.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, June 30th were given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Wednesday, June 28th. Stryker Corporation’s dividend payout ratio is currently 37.95%.
In related news, insider David Floyd sold 19,305 shares of Stryker Corporation stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total value of $2,790,730.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 7.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of SYK. UBS Asset Management Americas Inc. raised its position in Stryker Corporation by 1.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 929,571 shares of the medical technology company’s stock valued at $111,370,000 after buying an additional 15,523 shares during the period. Becker Capital Management Inc. raised its position in Stryker Corporation by 6.6% in the fourth quarter. Becker Capital Management Inc. now owns 3,222 shares of the medical technology company’s stock valued at $386,000 after buying an additional 200 shares during the period. Teachers Advisors LLC raised its position in Stryker Corporation by 5.7% in the fourth quarter. Teachers Advisors LLC now owns 377,336 shares of the medical technology company’s stock valued at $45,209,000 after buying an additional 20,450 shares during the period. Macquarie Group Ltd. raised its position in Stryker Corporation by 13.3% in the fourth quarter. Macquarie Group Ltd. now owns 103,000 shares of the medical technology company’s stock valued at $12,341,000 after buying an additional 12,100 shares during the period. Finally, Pensionfund Sabic bought a new position in Stryker Corporation during the first quarter valued at $2,014,000. 74.07% of the stock is currently owned by hedge funds and other institutional investors.
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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