Stryker Corporation (NYSE:SYK) had its price target upped by Wells Fargo & Company from $160.00 to $166.00 in a research note issued to investors on Friday, The Fly reports.
A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Stryker Corporation from a buy rating to a hold rating in a report on Thursday, August 17th. BidaskClub raised shares of Stryker Corporation from a hold rating to a buy rating in a report on Thursday, August 17th. Cowen and Company reaffirmed a buy rating and set a $160.00 target price (up previously from $150.00) on shares of Stryker Corporation in a report on Sunday, July 30th. Oppenheimer Holdings, Inc. set a $148.00 target price on shares of Stryker Corporation and gave the stock a hold rating in a report on Friday, July 28th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $132.00 target price on shares of Stryker Corporation in a report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $151.52.
Stryker Corporation (NYSE SYK) opened at 155.37 on Friday. The stock has a market capitalization of $58.12 billion, a PE ratio of 34.68 and a beta of 0.81. The company’s 50-day moving average is $145.94 and its 200 day moving average is $142.17. Stryker Corporation has a 1-year low of $106.48 and a 1-year high of $160.62.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.50 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.97 billion. Stryker Corporation had a net margin of 14.67% and a return on equity of 24.11%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 EPS. Equities analysts predict that Stryker Corporation will post $6.44 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a $0.425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a yield of 1.09%. Stryker Corporation’s payout ratio is currently 36.32%.
In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $146.36, for a total value of $731,800.00. Following the transaction, the insider now owns 88,207 shares of the company’s stock, valued at $12,909,976.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Graham A. Mclean sold 1,124 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total transaction of $164,396.24. Following the completion of the transaction, the insider now directly owns 8,983 shares in the company, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. Corporate insiders own 7.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BP PLC lifted its position in Stryker Corporation by 12.9% in the third quarter. BP PLC now owns 39,500 shares of the medical technology company’s stock valued at $5,610,000 after buying an additional 4,500 shares during the last quarter. Ramsay Stattman Vela & Price Inc. lifted its position in Stryker Corporation by 0.7% in the third quarter. Ramsay Stattman Vela & Price Inc. now owns 47,418 shares of the medical technology company’s stock valued at $6,734,000 after buying an additional 315 shares during the last quarter. Brightworth lifted its position in Stryker Corporation by 2,755.7% in the third quarter. Brightworth now owns 41,751 shares of the medical technology company’s stock valued at $5,930,000 after buying an additional 40,289 shares during the last quarter. Westpac Banking Corp lifted its position in Stryker Corporation by 18.5% in the third quarter. Westpac Banking Corp now owns 213,525 shares of the medical technology company’s stock valued at $30,325,000 after buying an additional 33,375 shares during the last quarter. Finally, Boys Arnold & Co. Inc. lifted its position in Stryker Corporation by 2.6% in the third quarter. Boys Arnold & Co. Inc. now owns 18,853 shares of the medical technology company’s stock valued at $2,677,000 after buying an additional 480 shares during the last quarter. 74.00% of the stock is currently owned by institutional investors.
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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