Robert W. Baird upgraded shares of Stryker Corporation (NYSE:SYK) from a neutral rating to an outperform rating in a research note released on Thursday morning, MarketBeat Ratings reports. Robert W. Baird currently has $173.00 price objective on the medical technology company’s stock, up from their prior price objective of $161.00.
Other research analysts also recently issued reports about the company. Wells Fargo & Company lifted their price target on Stryker Corporation from $160.00 to $166.00 in a report on Friday, October 27th. Cowen and Company reiterated a buy rating and issued a $160.00 price target (up from $150.00) on shares of Stryker Corporation in a report on Sunday, July 30th. Stifel Nicolaus lifted their price target on Stryker Corporation from $151.00 to $158.00 and gave the company a buy rating in a report on Friday, July 28th. Canaccord Genuity reiterated a buy rating and issued a $155.00 price target (down from $158.00) on shares of Stryker Corporation in a report on Thursday, August 24th. Finally, BidaskClub upgraded Stryker Corporation from a hold rating to a buy rating in a report on Thursday, August 17th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $152.10.
Stryker Corporation (NYSE:SYK) opened at $155.40 on Thursday. Stryker Corporation has a fifty-two week low of $108.29 and a fifty-two week high of $160.62. The stock has a market capitalization of $58,156.52, a price-to-earnings ratio of 24.63, a PEG ratio of 2.45 and a beta of 0.79. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.37 and a quick ratio of 1.61.
Stryker Corporation (NYSE:SYK) last announced its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.02. Stryker Corporation had a return on equity of 24.11% and a net margin of 14.67%. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period last year, the business posted $1.39 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. sell-side analysts anticipate that Stryker Corporation will post 6.47 earnings per share for the current fiscal year.
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In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of Stryker Corporation stock in a transaction dated 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 approximately $12,925,375.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 7.40% of the company’s stock.
Several hedge funds have recently modified their holdings of SYK. BlackRock Inc. lifted its holdings in shares of Stryker Corporation by 2,526.4% in the 1st quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock valued at $2,893,242,000 after buying an additional 21,140,000 shares during the period. Koch Industries Inc. lifted its holdings in shares of Stryker Corporation by 34,120.3% in 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 buying an additional 1,256,991 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Stryker Corporation by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock valued at $3,083,382,000 after buying an additional 1,161,688 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Stryker Corporation by 2,237.8% in 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 buying an additional 975,656 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Stryker Corporation by 41.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,403,420 shares of the medical technology company’s stock valued at $184,759,000 after buying an additional 414,715 shares during the period. 74.20% of the stock is 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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