Stryker Corporation (SYK) Given Consensus Rating of “Hold” by Analysts

Stryker Corporation (NYSE:SYK) has been assigned a consensus recommendation of “Hold” from the twenty-two brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $144.03.

Several analysts have recently weighed in on SYK shares. BMO Capital Markets restated a “hold” rating and issued a $140.00 price objective on shares of Stryker Corporation in a report on Tuesday, July 11th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Stryker Corporation in a report on Monday, June 19th. Citigroup Inc. upped their price objective on Stryker Corporation from $114.00 to $125.00 and gave the company a “sell” rating in a report on Friday, June 9th. Cantor Fitzgerald started coverage on Stryker Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $153.00 price objective for the company. Finally, Morgan Stanley restated an “overweight” rating and issued a $160.00 price objective (up previously from $155.00) on shares of Stryker Corporation in a report on Monday, July 10th.

In other Stryker Corporation news, insider David Floyd sold 19,305 shares of the company’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total value of $2,790,730.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $146.36, for a total value of $731,800.00. Following the completion of the transaction, the insider now directly owns 88,207 shares in the company, valued at $12,909,976.52. The disclosure for this sale can be found here. Insiders have sold 31,686 shares of company stock worth $4,590,562 over the last three months. 7.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SYK. Commerce Bank raised its position in shares of Stryker Corporation by 8.3% in the second quarter. Commerce Bank now owns 34,063 shares of the medical technology company’s stock valued at $4,728,000 after buying an additional 2,620 shares during the last quarter. Cornerstone Advisory LLP raised its position in shares of Stryker Corporation by 206.9% in the second quarter. Cornerstone Advisory LLP now owns 5,192 shares of the medical technology company’s stock valued at $721,000 after buying an additional 3,500 shares during the last quarter. Motco raised its position in shares of Stryker Corporation by 50.7% in the second quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after buying an additional 278 shares during the last quarter. Suncoast Equity Management raised its position in shares of Stryker Corporation by 68.5% in the second quarter. Suncoast Equity Management now owns 82,655 shares of the medical technology company’s stock valued at $11,471,000 after buying an additional 33,590 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Stryker Corporation during the second quarter valued at $2,200,000. 73.99% of the stock is currently owned by institutional investors.

Shares of Stryker Corporation (NYSE SYK) traded down 0.40% on Tuesday, hitting $146.14. The stock had a trading volume of 644,974 shares. The firm has a market cap of $54.67 billion, a P/E ratio of 32.62 and a beta of 0.80. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $148.84. The company’s 50-day moving average price is $143.16 and its 200 day moving average price is $134.68.

Stryker Corporation (NYSE:SYK) last announced its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.02. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.39 earnings per share. On average, equities research analysts forecast that Stryker Corporation will post $6.50 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s payout ratio is 37.95%.

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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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