Stryker Corporation (NYSE:SYK) had its price objective hoisted by Stifel Nicolaus from $158.00 to $168.00 in a research report sent to investors on Friday, October 27th. The firm currently has a buy rating on the medical technology company’s stock.
SYK has been the topic of a number of other research reports. Piper Jaffray Companies reissued an overweight rating and set a $148.00 price target on shares of Stryker Corporation in a research report on Thursday, August 24th. Needham & Company LLC raised Stryker Corporation from an underperform rating to a hold rating in a research report on Friday, August 25th. Cantor Fitzgerald began coverage on Stryker Corporation in a research report on Thursday, June 29th. They issued a neutral rating and a $153.00 target price on the stock. Morgan Stanley reaffirmed an overweight rating and issued a $160.00 target price (up previously from $155.00) on shares of Stryker Corporation in a research report on Monday, July 10th. Finally, Zacks Investment Research raised Stryker Corporation from a hold rating to a buy rating and set a $163.00 target price on the stock in a research report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $151.52.
Shares of Stryker Corporation (SYK) opened at $154.48 on Friday. Stryker Corporation has a twelve month low of $106.48 and a twelve month high of $160.62. The stock has a market capitalization of $57,812.22, a PE ratio of 24.48, a P/E/G ratio of 2.43 and a beta of 0.79. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.63.
Stryker Corporation (NYSE:SYK) last released its earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.02. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.97 billion. Stryker Corporation had a return on equity of 24.11% and a net margin of 14.67%. Stryker Corporation’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.39 earnings per share. analysts expect that Stryker Corporation will post 6.47 EPS for the current fiscal year.
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 completion of the sale, the insider now directly owns 83,207 shares in the company, valued at approximately $12,925,375.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 7.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC bought a new position in shares of Stryker Corporation during the 2nd quarter worth approximately $111,000. Motco lifted its position in shares of Stryker Corporation by 50.7% during the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after buying an additional 278 shares in the last quarter. Bollard Group LLC lifted its position in shares of Stryker Corporation by 0.4% during the 2nd quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after buying an additional 3 shares in the last quarter. Bruderman Asset Management LLC bought a new position in shares of Stryker Corporation during the 2nd quarter worth approximately $150,000. Finally, James Investment Research Inc. bought a new position in shares of Stryker Corporation during the 2nd quarter worth approximately $155,000. 74.15% of the stock is currently owned by institutional investors and hedge funds.
About Stryker Corporation
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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