“SYK is acquiring ENTL for $24.00 per share (a 50% premium) or $662M of cash which is 7.1x consensus 2017E sales. ENTL is the leader in minimally invasive surgical (MIS) treatment of ear, nose, and throat (ENT) diseases and manufactures products that specifically cover nasal procedures. We think that the deal makes strategic and financial sense for SYK since it broadens SYK’s ENT offering and we expect ENTL’s sustained double-digit growth to be accretive to SYK’s overall growth in coming years.”,” the firm’s analyst commented.
SYK has been the subject of several other research reports. SunTrust Banks reiterated a buy rating and issued a $161.00 price objective on shares of Stryker in a research report on Monday, October 2nd. Oppenheimer set a $156.00 price objective on Stryker and gave the company a hold rating in a research report on Monday, October 30th. Canaccord Genuity lifted their price objective on Stryker from $155.00 to $162.00 and gave the company a buy rating in a research report on Friday, October 27th. Zacks Investment Research downgraded Stryker from a hold rating to a sell rating in a research report on Monday, October 16th. Finally, Cowen set a $160.00 price objective on Stryker and gave the company a buy rating in a research report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $152.10.
Shares of Stryker (SYK) traded up $0.78 on Thursday, reaching $151.93. The company’s stock had a trading volume of 666,473 shares, compared to its average volume of 1,178,810. 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 has a 52-week low of $115.75 and a 52-week high of $160.62. The company has a market cap of $56,794.30, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 2.39 and a beta of 0.78.
Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.02. Stryker had a return on equity of 24.11% and a net margin of 14.67%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the previous year, the company posted $1.39 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. sell-side analysts forecast that Stryker will post 6.47 EPS for the current fiscal year.
In other news, insider Lonny J. Carpenter sold 5,000 shares of Stryker 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 completion of the sale, the insider now directly owns 83,207 shares of the company’s stock, valued at approximately $12,925,375.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 7.40% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. AXA grew its stake in shares of Stryker by 6.5% during the third quarter. AXA now owns 516,156 shares of the medical technology company’s stock worth $73,304,000 after purchasing an additional 31,375 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of Stryker during the third quarter worth $538,000. Public Employees Retirement System of Ohio grew its stake in shares of Stryker by 0.3% during the third quarter. Public Employees Retirement System of Ohio now owns 241,591 shares of the medical technology company’s stock worth $34,311,000 after purchasing an additional 833 shares during the period. Crestwood Advisors Group LLC grew its stake in shares of Stryker by 1.4% during the third quarter. Crestwood Advisors Group LLC now owns 166,336 shares of the medical technology company’s stock worth $23,623,000 after purchasing an additional 2,260 shares during the period. Finally, Cetera Investment Advisers grew its stake in shares of Stryker by 9.3% during the third quarter. Cetera Investment Advisers now owns 4,883 shares of the medical technology company’s stock worth $689,000 after purchasing an additional 415 shares during the period. 74.97% of the stock is owned by institutional investors and hedge funds.
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Stryker Company Profile
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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