Stryker Corporation (SYK) Rating Reiterated by Argus
Stryker Corporation (NYSE:SYK)‘s stock had its “buy” rating restated by investment analysts at Argus in a report released on Tuesday. They currently have a $160.00 price objective on the medical technology company’s stock. Argus’ target price points to a potential upside of 14.84% from the company’s previous close.
Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Stryker Corporation from a “strong-buy” rating to a “buy” rating in a research 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 objective for the company in a research report on Monday, July 17th. Stifel Nicolaus upped their price objective on shares of Stryker Corporation from $151.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Cowen and Company restated a “buy” rating and set a $160.00 price objective (up previously from $150.00) on shares of Stryker Corporation in a research report on Sunday, July 30th. Finally, Canaccord Genuity restated a “buy” rating and set a $155.00 price objective (down previously from $158.00) on shares of Stryker Corporation in a research report on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. Stryker Corporation has a consensus rating of “Hold” and a consensus price target of $145.73.
Shares of Stryker Corporation (NYSE:SYK) opened at 139.33 on Tuesday. Stryker Corporation has a 12 month low of $106.48 and a 12 month high of $148.84. The stock’s 50 day moving average is $144.80 and its 200-day moving average is $137.03. The company has a market cap of $52.12 billion, a P/E ratio of 31.10 and a beta of 0.80.
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, topping the Zacks’ consensus estimate of $1.51 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. Stryker Corporation’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 EPS. On average, equities analysts forecast that Stryker Corporation will post $6.47 EPS for the current year.
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In related news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $146.36, for a total value of $731,800.00. Following the sale, the insider now directly owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Graham A. Mclean sold 1,124 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total transaction of $164,396.24. Following the completion of the transaction, the insider now owns 8,983 shares in the company, valued at $1,313,853.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,810 shares of company stock worth $4,754,958. 7.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYK. Shell Asset Management Co. raised its position in Stryker Corporation by 4.5% in the first quarter. Shell Asset Management Co. now owns 83,075 shares of the medical technology company’s stock worth $10,937,000 after buying an additional 3,585 shares during the period. Janney Montgomery Scott LLC raised its position in Stryker Corporation by 6.1% in the first quarter. Janney Montgomery Scott LLC now owns 19,358 shares of the medical technology company’s stock worth $2,548,000 after buying an additional 1,111 shares during the period. Baystate Wealth Management LLC raised 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 during the period. Adviser Investments LLC purchased a new position in Stryker Corporation during the first quarter worth about $378,000. Finally, Duncker Streett & Co. Inc. raised its position in Stryker Corporation by 1.7% in the first quarter. Duncker Streett & Co. Inc. now owns 31,820 shares of the medical technology company’s stock worth $4,190,000 after buying an additional 535 shares during the period. Institutional investors own 74.16% of the company’s stock.
Stryker Corporation Company Profile
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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