Sanford C. Bernstein initiated coverage on shares of Stryker (NYSE:SYK) in a report published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a market perform rating and a $177.00 price objective on the medical technology company’s stock.
Other equities research analysts have also recently issued reports about the stock. ValuEngine raised shares of Stryker from a hold rating to a buy rating in a research note on Thursday, March 1st. Canaccord Genuity increased their price objective on shares of Stryker from $176.00 to $185.00 and gave the company a buy rating in a research note on Friday, April 27th. Stifel Nicolaus increased their price objective on shares of Stryker from $183.00 to $187.00 and gave the company a buy rating in a research note on Friday, April 27th. Finally, Zacks Investment Research raised shares of Stryker from a hold rating to a buy rating and set a $192.00 price objective on the stock in a research note on Monday, May 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $171.95.
Stryker opened at $168.86 on Wednesday, MarketBeat.com reports. The firm has a market cap of $63.22 billion, a PE ratio of 26.02, a P/E/G ratio of 2.41 and a beta of 0.71. Stryker has a fifty-two week low of $137.70 and a fifty-two week high of $179.84. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.64.
Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, April 26th. The medical technology company reported $1.68 EPS for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.08. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Stryker had a net margin of 8.00% and a return on equity of 25.65%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.48 EPS. equities research analysts expect that Stryker will post 7.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Shareholders of record on Friday, June 29th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $1.88 dividend on an annualized basis and a yield of 1.11%. Stryker’s dividend payout ratio (DPR) is 28.97%.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $166.42, for a total transaction of $832,100.00. Following the transaction, the insider now directly owns 101,675 shares in the company, valued at approximately $16,920,753.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Katherine Ann Owen sold 2,651 shares of the stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $165.00, for a total transaction of $437,415.00. Following the transaction, the vice president now owns 7,729 shares in the company, valued at $1,275,285. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,401 shares of company stock worth $1,389,515. 7.40% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Banco de Sabadell S.A purchased a new position in shares of Stryker during the 4th quarter worth about $1,906,000. Stone Ridge Asset Management LLC purchased a new position in shares of Stryker during the 4th quarter worth about $4,645,000. EP Wealth Advisors LLC lifted its holdings in shares of Stryker by 2.8% during the 4th quarter. EP Wealth Advisors LLC now owns 96,717 shares of the medical technology company’s stock worth $14,976,000 after acquiring an additional 2,620 shares during the period. Corient Capital Partners LLC purchased a new position in shares of Stryker during the 4th quarter worth about $217,000. Finally, Larson Financial Group LLC purchased a new position in shares of Stryker during the 4th quarter worth about $225,000. Institutional investors and hedge funds own 74.92% of the company’s stock.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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