Stryker (SYK) Upgraded by BMO Capital Markets to “Market Perform”
Stryker (NYSE:SYK) was upgraded by BMO Capital Markets to a “market perform” rating in a research note issued to investors on Tuesday. The brokerage currently has a $163.00 price objective on the medical technology company’s stock. BMO Capital Markets’ price objective points to a potential upside of 6.74% from the stock’s current price.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. BidaskClub upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Argus reiterated a “buy” rating and set a $160.00 price target on shares of Stryker in a research report on Tuesday, August 29th. Cowen set a $160.00 price target on shares of Stryker and gave the stock a “buy” rating in a research report on Friday, October 6th. Finally, Robert W. Baird upgraded shares of Stryker from a “neutral” rating to an “outperform” rating in a research report on Friday, November 24th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. Stryker currently has a consensus rating of “Hold” and a consensus price target of $153.19.
Shares of Stryker (NYSE:SYK) traded up $0.78 during mid-day trading on Tuesday, reaching $152.71. 826,100 shares of the company traded hands, compared to its average volume of 1,177,418. Stryker has a 12-month low of $116.27 and a 12-month high of $160.62. The company has a market cap of $56,857.92, a P/E ratio of 24.08, a P/E/G ratio of 2.39 and a beta of 0.78. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.63.
Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.02. Stryker had a net margin of 14.67% and a return on equity of 24.11%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period last year, the firm posted $1.39 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. equities research analysts predict that Stryker will post 6.47 earnings per share for the current year.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were 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 in the company, valued at $12,925,375.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 7.40% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Koch Industries Inc. grew its stake in Stryker by 34,120.3% during the second quarter. Koch Industries Inc. now owns 1,260,675 shares of the medical technology company’s stock worth $1,252,000 after buying an additional 1,256,991 shares in the last quarter. BlackRock Inc. raised its holdings in Stryker by 5.2% in the 2nd quarter. BlackRock Inc. now owns 23,115,853 shares of the medical technology company’s stock valued at $3,208,017,000 after acquiring an additional 1,139,082 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Stryker by 2,237.8% in the 2nd quarter. Janus Henderson Group PLC now owns 1,019,254 shares of the medical technology company’s stock valued at $141,452,000 after acquiring an additional 975,656 shares during the last quarter. Vanguard Group Inc. raised its holdings in Stryker by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 24,078,709 shares of the medical technology company’s stock valued at $3,341,643,000 after acquiring an additional 657,656 shares during the last quarter. Finally, APG Asset Management N.V. raised its holdings in Stryker by 117.1% in the 3rd quarter. APG Asset Management N.V. now owns 583,736 shares of the medical technology company’s stock valued at $82,902,000 after acquiring an additional 314,800 shares during the last quarter. 74.97% of the stock is currently owned by institutional investors and hedge funds.
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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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