Traders Buy Stryker (SYK) on Weakness

Traders bought shares of Stryker Corporation (NYSE:SYK) on weakness during trading hours on Friday. $64.94 million flowed into the stock on the tick-up and $30.83 million flowed out of the stock on the tick-down, for a money net flow of $34.11 million into the stock. Of all equities tracked, Stryker had the 24th highest net in-flow for the day. Stryker traded down ($0.37) for the day and closed at $158.23

Several equities research analysts recently commented on SYK shares. Wells Fargo & Co increased their price objective on Stryker from $160.00 to $166.00 in a research report on Friday, October 27th. Canaccord Genuity raised their target price on Stryker from $155.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Stifel Nicolaus raised their target price on Stryker from $158.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Cowen set a $160.00 target price on Stryker and gave the stock a “buy” rating in a research report on Friday, October 6th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $155.00 target price on shares of Stryker in a research report on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $156.60.

The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.63. The firm has a market cap of $59,220.00, a P/E ratio of 33.74, a P/E/G ratio of 2.30 and a beta of 0.78.

Stryker (NYSE:SYK) last posted its quarterly earnings data 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. Stryker had a return on equity of 24.11% and a net margin of 14.67%. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter last year, the company earned $1.39 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. equities analysts forecast that Stryker Corporation will post 6.47 EPS for the current year.

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

In other news, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $155.34, for a total value of $776,700.00. Following the transaction, the insider now owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 7.40% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Koch Industries Inc. raised its stake in Stryker by 34,120.3% during the 2nd quarter. Koch Industries Inc. now owns 1,260,675 shares of the medical technology company’s stock valued at $1,252,000 after purchasing an additional 1,256,991 shares during the period. BlackRock Inc. raised its stake in Stryker by 5.2% during the 2nd quarter. BlackRock Inc. now owns 23,115,853 shares of the medical technology company’s stock valued at $3,208,017,000 after purchasing an additional 1,139,082 shares during the period. Janus Henderson Group PLC raised its stake in Stryker by 2,237.8% during the 2nd quarter. Janus Henderson Group PLC now owns 1,019,254 shares of the medical technology company’s stock valued at $141,452,000 after purchasing an additional 975,656 shares during the period. Vanguard Group Inc. raised its stake in Stryker by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 24,078,709 shares of the medical technology company’s stock valued at $3,341,643,000 after purchasing an additional 657,656 shares during the period. Finally, APG Asset Management N.V. raised its stake in Stryker by 117.1% during the 3rd quarter. APG Asset Management N.V. now owns 583,736 shares of the medical technology company’s stock valued at $82,902,000 after purchasing an additional 314,800 shares during the period. 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.

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