Stryker (SYK) Receives Buy Rating from Royal Bank of Canada
Stryker (NYSE:SYK)‘s stock had its “buy” rating restated by investment analysts at Royal Bank of Canada in a research note issued to investors on Tuesday. They presently have a $175.00 price objective on the medical technology company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 8.84% from the company’s current price.
Several other analysts also recently commented on the company. Robert W. Baird raised Stryker from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $161.00 to $173.00 in a research note on Thursday, November 16th. Zacks Investment Research downgraded Stryker from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. BMO Capital Markets raised Stryker to a “market perform” rating and set a $163.00 price objective on the stock in a research note on Tuesday, December 12th. Stifel Nicolaus raised their price objective on Stryker from $158.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $161.00 price objective on shares of Stryker in a research note on Friday, November 17th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $156.60.
Stryker (SYK) traded down $2.54 during mid-day trading on Tuesday, hitting $160.78. The stock had a trading volume of 1,820,000 shares, compared to its average volume of 1,110,000. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.61 and a current ratio of 2.37. The firm has a market cap of $60,170.00, a P/E ratio of 34.28, a P/E/G ratio of 2.30 and a beta of 0.78. Stryker has a one year low of $117.64 and a one year high of $164.20.
In other Stryker news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $155.34, for a total transaction of $776,700.00. Following the completion of the transaction, the insider now owns 83,207 shares in the company, valued at approximately $12,925,375.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 7.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in SYK. Blue Chip Partners Inc. grew its holdings in shares of Stryker by 0.3% in the 2nd quarter. Blue Chip Partners Inc. now owns 1,781 shares of the medical technology company’s stock valued at $247,000 after acquiring an additional 6 shares in the last quarter. WFG Advisors LP grew its holdings in shares of Stryker by 1.6% in the 2nd quarter. WFG Advisors LP now owns 2,041 shares of the medical technology company’s stock valued at $283,000 after acquiring an additional 32 shares in the last quarter. Armor Investment Advisors LLC grew its holdings in shares of Stryker by 1.0% in the 2nd quarter. Armor Investment Advisors LLC now owns 5,000 shares of the medical technology company’s stock valued at $694,000 after acquiring an additional 50 shares in the last quarter. Advisory Services Network LLC grew its holdings in shares of Stryker by 1.8% in the 2nd quarter. Advisory Services Network LLC now owns 3,398 shares of the medical technology company’s stock valued at $472,000 after acquiring an additional 59 shares in the last quarter. Finally, Essex Financial Services Inc. grew its holdings in shares of Stryker by 0.6% in the 2nd quarter. Essex Financial Services Inc. now owns 11,220 shares of the medical technology company’s stock valued at $1,557,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 74.90% of the company’s stock.
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Stryker 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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