Stryker Corporation (NYSE:SYK)‘s stock had its “buy” rating restated by SunTrust Banks, Inc. in a report issued on Friday. They currently have a $161.00 price target on the medical technology company’s stock. SunTrust Banks, Inc.’s price objective indicates a potential upside of 3.60% from the company’s previous close.
Several other research firms also recently issued reports on SYK. Robert W. Baird upgraded Stryker Corporation from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $161.00 to $173.00 in a report on Thursday. Wells Fargo & Company boosted their price objective on Stryker Corporation from $160.00 to $166.00 in a report on Friday, October 27th. Barclays PLC boosted their price objective on Stryker Corporation from $137.00 to $148.00 and gave the stock an “underweight” rating in a report on Friday, October 27th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Stryker Corporation in a report on Wednesday, August 23rd. Finally, Zacks Investment Research upgraded Stryker Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $152.10.
Stryker Corporation (NYSE SYK) traded down $1.07 during midday trading on Friday, reaching $155.40. The company’s stock had a trading volume of 936,961 shares, compared to its average volume of 1,229,068. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.63. The firm has a market cap of $58,156.58, a P/E ratio of 24.63, a PEG ratio of 2.45 and a beta of 0.79. Stryker Corporation has a 12-month low of $108.29 and a 12-month high of $160.62.
Stryker Corporation (NYSE:SYK) last posted its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) 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 the consensus estimate of $2.97 billion. Stryker Corporation had a return on equity of 24.11% and a net margin of 14.67%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.39 EPS. research analysts forecast that Stryker Corporation will post 6.47 earnings per share for the current fiscal year.
In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total transaction of $776,700.00. Following the completion of the sale, the insider now owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.40% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Coldstream Capital Management Inc. boosted its position in Stryker Corporation by 3.7% during the second quarter. Coldstream Capital Management Inc. now owns 17,445 shares of the medical technology company’s stock worth $2,421,000 after purchasing an additional 626 shares during the period. Retirement Systems of Alabama boosted its position in Stryker Corporation by 2.5% during the third quarter. Retirement Systems of Alabama now owns 234,870 shares of the medical technology company’s stock worth $33,356,000 after purchasing an additional 5,656 shares during the period. Lockheed Martin Investment Management Co. bought a new stake in shares of Stryker Corporation in the second quarter valued at approximately $1,249,000. Toronto Dominion Bank boosted its position in shares of Stryker Corporation by 25.8% in the second quarter. Toronto Dominion Bank now owns 105,403 shares of the medical technology company’s stock valued at $14,625,000 after acquiring an additional 21,585 shares during the period. Finally, Colonial Trust Advisors boosted its position in shares of Stryker Corporation by 56.1% in the second quarter. Colonial Trust Advisors now owns 23,446 shares of the medical technology company’s stock valued at $3,254,000 after acquiring an additional 8,426 shares during the period. 74.15% of the stock is owned by hedge funds and other institutional investors.
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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