Royal Bank of Canada reaffirmed their buy rating on shares of Stryker (NYSE:SYK) in a report published on Tuesday. The firm currently has a $175.00 price target on the medical technology company’s stock.
A number of other research analysts have also recently commented on the company. Piper Jaffray Companies upped their price target on Stryker from $156.00 to $166.00 and gave the stock an overweight rating in a research note on Tuesday. Cantor Fitzgerald reiterated a neutral rating and issued a $163.00 price objective on shares of Stryker in a research note on Friday, January 5th. Wells Fargo & Co reiterated an outperform rating and issued a $174.00 price objective (up from $166.00) on shares of Stryker in a research note on Tuesday, January 2nd. They noted that the move was a valuation call. JPMorgan Chase & Co. upgraded Stryker from a neutral rating to an overweight rating in a research note on Tuesday, January 2nd. Finally, BMO Capital Markets upgraded Stryker to a market perform rating and set a $163.00 price objective on the stock in a research note on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $156.60.
Stryker (NYSE SYK) traded down $0.37 during trading hours on Tuesday, reaching $158.23. The company’s stock had a trading volume of 1,138,974 shares, compared to its average volume of 1,160,000. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.63. Stryker has a one year low of $119.17 and a one year high of $164.20. The firm has a market capitalization of $59,220.00, a PE ratio of 33.74, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78.
The firm also recently announced 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. This represents a $1.88 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, December 28th. This is a positive change from Stryker’s previous quarterly dividend of $0.43. Stryker’s dividend payout ratio is 40.09%.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction on 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 is accessible through this link. Corporate insiders own 7.40% of the company’s stock.
Several hedge funds have recently modified their holdings of SYK. Acrospire Investment Management LLC purchased a new position in shares of Stryker during the second quarter worth about $111,000. Motco grew its holdings in shares of Stryker by 50.7% during the second quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 278 shares during the last quarter. Sawyer & Company Inc purchased a new position in shares of Stryker during the fourth quarter worth about $125,000. Sit Investment Associates Inc. grew its holdings in shares of Stryker by 114.3% during the fourth quarter. Sit Investment Associates Inc. now owns 825 shares of the medical technology company’s stock worth $128,000 after purchasing an additional 440 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA grew its holdings 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 worth $143,000 after purchasing an additional 325 shares during the last quarter. 74.90% of the stock is currently owned by institutional investors.
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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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