Piper Jaffray Companies Raises Stryker (SYK) Price Target to $166.00

Stryker (NYSE:SYK) had its target price boosted by Piper Jaffray Companies from $156.00 to $166.00 in a research note released on Tuesday morning, MarketBeat reports. The brokerage currently has an overweight rating on the medical technology company’s stock.

Several other analysts have also recently weighed in on SYK. SunTrust Banks reaffirmed a buy rating and set a $161.00 price objective on shares of Stryker in a research note on Monday, October 2nd. Royal Bank of Canada reaffirmed a buy rating and set a $155.00 price objective on shares of Stryker in a research note on Monday, October 2nd. Cowen set a $160.00 price objective on shares of Stryker and gave the stock a buy rating in a research note on Friday, October 6th. Zacks Investment Research cut shares of Stryker from a hold rating to a sell rating in a research note on Monday, October 16th. Finally, Robert W. Baird reaffirmed a hold rating and set a $161.00 price objective on shares of Stryker in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. Stryker has an average rating of Hold and a consensus price target of $156.60.

Shares of Stryker (NYSE:SYK) traded down $0.37 during trading on Tuesday, reaching $158.23. 1,130,106 shares of the company’s stock traded hands, compared to its average volume of 1,215,825. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.37 and a quick ratio of 1.61. The company has a market capitalization of $59,220.00, a PE ratio of 33.74, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78. Stryker has a 1 year low of $119.17 and a 1 year high of $164.20.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.02. The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Stryker had a net margin of 14.67% and a return on equity of 24.11%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 earnings per share. equities analysts expect that Stryker will post 6.47 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be paid a dividend of $0.47 per share. This is a boost from Stryker’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, December 28th. Stryker’s dividend payout ratio is 40.09%.

In other news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $155.34, for a total transaction of $776,700.00. Following the sale, the insider now directly owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.40% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Stryker by 2.8% in the second quarter. Vanguard Group Inc. now owns 24,078,709 shares of the medical technology company’s stock valued at $3,341,643,000 after acquiring an additional 657,656 shares during the last quarter. BlackRock Inc. boosted its stake in Stryker by 5.2% in the second quarter. BlackRock Inc. now owns 23,115,853 shares of the medical technology company’s stock valued at $3,208,017,000 after acquiring an additional 1,139,082 shares during the last quarter. Jensen Investment Management Inc. boosted its stake in Stryker by 11.3% in the third quarter. Jensen Investment Management Inc. now owns 2,472,476 shares of the medical technology company’s stock valued at $351,141,000 after acquiring an additional 251,685 shares during the last quarter. Legal & General Group Plc boosted its stake in Stryker by 2.8% in the third quarter. Legal & General Group Plc now owns 1,805,572 shares of the medical technology company’s stock valued at $256,393,000 after acquiring an additional 49,143 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Stryker by 4.8% in the third quarter. Wells Fargo & Company MN now owns 1,742,959 shares of the medical technology company’s stock valued at $247,536,000 after acquiring an additional 79,551 shares during the last quarter. 74.90% of the stock is currently 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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