Stryker Corporation (SYK) Lifted to “Buy” at Zacks Investment Research
Stryker Corporation (NYSE:SYK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The firm presently has a $163.00 target price on the medical technology company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.35% from the company’s current price.
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.”
SYK has been the topic of several other reports. Cowen and Company set a $150.00 target price on Stryker Corporation and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Cantor Fitzgerald initiated coverage on Stryker Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $153.00 target price on the stock. Morgan Stanley reissued an “overweight” rating and issued a $160.00 target price (up from $155.00) on shares of Stryker Corporation in a report on Monday, July 10th. Royal Bank Of Canada reissued an “outperform” rating and issued a $140.00 target price (up from $135.00) on shares of Stryker Corporation in a report on Wednesday, April 26th. Finally, Citigroup Inc. boosted their target price on Stryker Corporation from $114.00 to $125.00 and gave the stock a “sell” rating in a report on Friday, June 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $138.36.
Stryker Corporation (SYK) traded down 0.38% on Monday, reaching $144.85. The company’s stock had a trading volume of 232,612 shares. The firm has a market capitalization of $54.14 billion, a PE ratio of 32.55 and a beta of 0.79. The stock’s 50 day moving average is $140.23 and its 200-day moving average is $130.49. Stryker Corporation has a 52 week low of $106.48 and a 52 week high of $145.99.
Stryker Corporation (NYSE:SYK) last announced its earnings results on Tuesday, April 25th. The medical technology company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.43 by $0.05. The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.90 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.33%. Stryker Corporation’s revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 EPS. Analysts predict that Stryker Corporation will post $6.43 EPS for the current year.
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In other news, insider Timothy J. Scannell sold 13,322 shares of the stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $135.89, for a total transaction of $1,810,326.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David Floyd sold 19,305 shares of the stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total transaction of $2,790,730.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,008 shares of company stock valued at $5,669,088. Company insiders own 7.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of SYK. Bollard Group LLC increased 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 worth $109,000 after buying an additional 3 shares in the last quarter. Baystate Wealth Management LLC increased 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 worth $139,000 after buying an additional 22 shares in the last quarter. James Investment Research Inc. acquired a new position in Stryker Corporation during the second quarter worth approximately $155,000. Guardian Life Insurance Co. of America increased 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 worth $158,000 after buying an additional 9 shares in the last quarter. Finally, Assetmark Inc. increased 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 worth $168,000 after buying an additional 4 shares in the last quarter. Institutional investors own 74.25% 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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