Stryker Corporation (NYSE:SYK) had its price objective upped by research analysts at Canaccord Genuity from $155.00 to $162.00 in a research note issued on Friday. The brokerage presently has a “buy” rating on the medical technology company’s stock. Canaccord Genuity’s price target suggests a potential upside of 1.41% from the company’s current price.
SYK has been the subject of a number of other research reports. SunTrust Banks, Inc. restated a “buy” rating and set a $161.00 price target on shares of Stryker Corporation in a research note on Monday, October 2nd. Stifel Nicolaus raised their price target on shares of Stryker Corporation from $151.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. BidaskClub cut shares of Stryker Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research cut shares of Stryker Corporation from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Finally, Argus restated a “buy” rating and set a $160.00 price target on shares of Stryker Corporation in a research note on Tuesday, August 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. Stryker Corporation currently has an average rating of “Hold” and a consensus target price of $150.86.
Stryker Corporation (NYSE:SYK) traded up 7.34% during trading on Friday, hitting $159.74. The stock had a trading volume of 3,338,433 shares. Stryker Corporation has a 52 week low of $106.48 and a 52 week high of $160.62. The company has a market cap of $59.75 billion, a PE ratio of 35.66 and a beta of 0.80. The stock has a 50-day moving average price of $145.58 and a 200-day moving average price of $141.82.
Stryker Corporation (NYSE:SYK) last announced its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.02. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Stryker Corporation had a net margin of 14.67% and a return on equity of 24.52%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.39 earnings per share. Equities analysts predict that Stryker Corporation will post $6.44 EPS for the current year.
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In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of Stryker Corporation stock in a transaction on Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the completion of the sale, the insider now owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Graham A. Mclean sold 1,124 shares of Stryker Corporation stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total transaction of $164,396.24. Following the sale, the insider now directly owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. grew its holdings in Stryker Corporation by 3.7% during the 2nd quarter. Coldstream Capital Management Inc. now owns 17,445 shares of the medical technology company’s stock worth $2,421,000 after acquiring an additional 626 shares during the period. Lockheed Martin Investment Management Co. acquired a new stake in Stryker Corporation during the 2nd quarter worth $1,249,000. JLB & Associates Inc. acquired a new stake in Stryker Corporation during the 2nd quarter worth $5,090,000. Colonial Trust Advisors grew its holdings in Stryker Corporation by 56.1% during the 2nd quarter. Colonial Trust Advisors now owns 23,446 shares of the medical technology company’s stock worth $3,254,000 after acquiring an additional 8,426 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Stryker Corporation by 276.9% during the 1st quarter. JPMorgan Chase & Co. now owns 269,555 shares of the medical technology company’s stock worth $35,487,000 after acquiring an additional 198,035 shares during the period. 74.09% of the stock is owned by hedge funds and other institutional investors.
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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