Stryker Corporation (SYK) Given a $166.00 Price Target at Cowen and Company

Cowen and Company set a $166.00 price target on Stryker Corporation (NYSE:SYK) in a research report report published on Sunday. The firm currently has a buy rating on the medical technology company’s stock.

Several other brokerages also recently issued reports on SYK. BMO Capital Markets reissued a hold rating and set a $140.00 price objective on shares of Stryker Corporation in a research report on Tuesday, July 11th. Wells Fargo & Company raised their price objective on shares of Stryker Corporation from $160.00 to $166.00 in a research report on Friday, October 27th. Barclays PLC raised their price objective on shares of Stryker Corporation from $137.00 to $148.00 and gave the stock an underweight rating in a research report on Friday, October 27th. Oppenheimer Holdings, Inc. reissued a hold rating on shares of Stryker Corporation in a research report on Wednesday, August 23rd. Finally, Morgan Stanley reissued an overweight rating and set a $160.00 price objective (up from $155.00) on shares of Stryker Corporation in a research report on Monday, July 10th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Stryker Corporation has an average rating of Hold and an average price target of $151.52.

Stryker Corporation (NYSE:SYK) last issued its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.02. Stryker Corporation had a net margin of 14.67% and a return on equity of 24.11%. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period last year, the firm posted $1.39 EPS. Stryker Corporation’s revenue for the quarter was up 6.1% on a year-over-year basis.

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In related news, insider Lonny J. Carpenter sold 5,000 shares of the firm’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 completion of the sale, the insider now owns 88,207 shares in the company, valued at $12,909,976.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Graham A. Mclean sold 1,124 shares of the firm’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 sale, the insider now 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 owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Acrospire Investment Management LLC acquired a new position in Stryker Corporation during the second quarter worth about $111,000. Motco raised its position in Stryker Corporation by 50.7% during the second quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 278 shares during the last quarter. Bollard Group LLC raised its position in Stryker Corporation by 0.4% during the second quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 3 shares during the last quarter. Bruderman Asset Management LLC acquired a new position in Stryker Corporation during the second quarter worth about $150,000. Finally, James Investment Research Inc. acquired a new position in Stryker Corporation during the second quarter worth about $155,000. Institutional investors own 74.00% of the company’s stock.

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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