Stryker Corporation (SYK) Upgraded to Outperform at Robert W. Baird
Stryker Corporation (NYSE:SYK) was upgraded by Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued on Friday.
Several other brokerages also recently commented on SYK. SunTrust Banks, Inc. reiterated a “buy” rating and set a $161.00 target price on shares of Stryker Corporation in a research note on Friday, November 17th. Wells Fargo & Co lifted their target price on Stryker Corporation from $160.00 to $166.00 in a research note on Friday, October 27th. Barclays PLC lifted their price target on Stryker Corporation from $137.00 to $148.00 and gave the stock an “underweight” rating in a report on Friday, October 27th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Stryker Corporation in a report on Wednesday, August 23rd. Finally, Zacks Investment Research raised Stryker Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $152.10.
Stryker Corporation (SYK) opened at $154.79 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.61 and a current ratio of 2.37. Stryker Corporation has a one year low of $110.00 and a one year high of $160.62. The company has a market capitalization of $58,280.02, a P/E ratio of 24.68, a PEG ratio of 2.45 and a beta of 0.79.
Stryker Corporation (NYSE:SYK) last issued its earnings results on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.02. Stryker Corporation had a return on equity of 24.11% and a net margin of 14.67%. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the previous year, the company posted $1.39 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. research analysts anticipate that Stryker Corporation will post 6.47 earnings per share for the current fiscal year.
In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of Stryker Corporation stock in a transaction on 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 directly 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 Securities & Exchange Commission, which is available through this hyperlink. 7.40% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of SYK. BlackRock Inc. grew its position in Stryker Corporation by 2,526.4% during the 1st quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock worth $2,893,242,000 after acquiring an additional 21,140,000 shares during the last quarter. Koch Industries Inc. grew its position in Stryker Corporation by 34,120.3% during the 2nd quarter. Koch Industries Inc. now owns 1,260,675 shares of the medical technology company’s stock worth $1,252,000 after acquiring an additional 1,256,991 shares during the last quarter. Vanguard Group Inc. grew its position in Stryker Corporation by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock worth $3,083,382,000 after acquiring an additional 1,161,688 shares during the last quarter. Janus Henderson Group PLC grew its position in Stryker Corporation by 2,237.8% during the 2nd quarter. Janus Henderson Group PLC now owns 1,019,254 shares of the medical technology company’s stock worth $141,452,000 after acquiring an additional 975,656 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of Stryker Corporation by 17.9% in the 1st quarter. Morgan Stanley now owns 2,144,472 shares of the medical technology company’s stock valued at $282,320,000 after buying an additional 325,661 shares during the last quarter. Institutional investors and hedge funds own 74.20% 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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