Cantor Fitzgerald Reiterates Neutral Rating for Stryker (SYK)

Cantor Fitzgerald reissued their neutral rating on shares of Stryker (NYSE:SYK) in a report issued on Friday, MarketBeat reports. They currently have a $163.00 price objective on the medical technology company’s stock.

“Announced preliminary FY17 revenue of $3.5B, beating FactSet consensus of $3.4B.”,” Cantor Fitzgerald’s analyst commented.

Several other equities analysts have also recently commented on SYK. Royal Bank of Canada restated a buy rating and set a $155.00 price target on shares of Stryker in a report on Monday, October 2nd. SunTrust Banks restated a buy rating and set a $161.00 price target on shares of Stryker in a report on Monday, October 2nd. Wells Fargo & Co restated an outperform rating and set a $174.00 price target (up from $166.00) on shares of Stryker in a report on Tuesday, January 2nd. They noted that the move was a valuation call. Oppenheimer set a $156.00 price target on shares of Stryker and gave the company a hold rating in a report on Monday, October 30th. Finally, Barclays boosted their price target on shares of Stryker from $137.00 to $148.00 and gave the company an underweight rating in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $155.10.

Stryker (NYSE SYK) traded up $2.20 during trading on Friday, hitting $163.26. 1,240,200 shares of the stock traded hands, compared to its average volume of 1,104,940. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.61 and a current ratio of 2.37. Stryker has a fifty-two week low of $117.64 and a fifty-two week high of $163.74. The stock has a market cap of $60,100.00, a PE ratio of 34.81, a P/E/G ratio of 2.30 and a beta of 0.78.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 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 business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same period in the previous year, the company posted $1.39 EPS. Stryker’s revenue was up 6.1% on a year-over-year basis. research analysts anticipate that Stryker will post 6.47 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This is a boost from Stryker’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a yield of 1.15%. Stryker’s dividend payout ratio is currently 40.09%.

In related news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 83,207 shares in the company, valued at $12,925,375.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Acrospire Investment Management LLC acquired a new position in shares of Stryker during the second quarter valued at about $111,000. Motco raised its position in shares of Stryker by 50.7% during 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. San Francisco Sentry Investment Group CA raised its position in shares of Stryker by 47.8% during the third quarter. San Francisco Sentry Investment Group CA now owns 1,005 shares of the medical technology company’s stock valued at $143,000 after buying an additional 325 shares during the last quarter. Bruderman Asset Management LLC acquired a new position in shares of Stryker during the second quarter valued at about $150,000. Finally, BB&T Investment Services Inc. acquired a new position in shares of Stryker during the second quarter valued at about $178,000. 74.90% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Stryker (NYSE:SYK)

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