Stryker Corporation (SYK) Upgraded at Robert W. Baird
Robert W. Baird upgraded shares of Stryker Corporation (NYSE:SYK) from a neutral rating to an outperform rating in a report published on Thursday, MarketBeat Ratings reports. They currently have $173.00 price objective on the medical technology company’s stock, up from their prior price objective of $161.00.
Several other analysts also recently issued reports on SYK. Zacks Investment Research downgraded Stryker Corporation from a buy rating to a hold rating in a research note on Thursday, July 27th. Royal Bank Of Canada boosted their price target on Stryker Corporation from $140.00 to $155.00 and gave the company an outperform rating in a research note on Friday, July 28th. Oppenheimer Holdings, Inc. set a $148.00 price target on Stryker Corporation and gave the company a hold rating in a research note on Friday, July 28th. Stifel Nicolaus boosted their price target on Stryker Corporation from $151.00 to $158.00 and gave the company a buy rating in a research note on Friday, July 28th. Finally, Cowen and Company restated a buy rating and issued a $160.00 price target (up from $150.00) on shares of Stryker Corporation in a research note on Sunday, July 30th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company. Stryker Corporation presently has a consensus rating of Hold and an average target price of $152.10.
Stryker Corporation (SYK) traded down $1.07 on Thursday, reaching $155.40. The company had a trading volume of 936,961 shares, compared to its average volume of 1,229,068. The company has a market cap of $58,156.58, a P/E ratio of 24.63, a PEG ratio of 2.45 and a beta of 0.79. Stryker Corporation has a twelve month low of $108.29 and a twelve month high of $160.62. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.37 and a quick ratio of 1.61.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.02. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. Stryker Corporation had a return on equity of 24.11% and a net margin of 14.67%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.39 EPS. sell-side analysts predict that Stryker Corporation will post 6.47 EPS for the current year.
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In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $155.34, for a total value of $776,700.00. Following the completion of the transaction, the insider now owns 83,207 shares of the company’s stock, valued at approximately $12,925,375.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.40% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Acrospire Investment Management LLC acquired a new position in Stryker Corporation in the 2nd quarter worth about $111,000. Motco increased its holdings in Stryker Corporation by 50.7% in the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 278 shares in the last quarter. Bollard Group LLC increased its holdings in Stryker Corporation by 0.4% in the 2nd quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 3 shares in the last quarter. San Francisco Sentry Investment Group CA increased its holdings in Stryker Corporation by 47.8% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,005 shares of the medical technology company’s stock worth $143,000 after purchasing an additional 325 shares in the last quarter. Finally, Bruderman Asset Management LLC acquired a new position in Stryker Corporation in the 2nd quarter worth about $150,000. 74.15% 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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