Stryker (NYSE:SYK) had its price target increased by Piper Jaffray Companies from $156.00 to $166.00 in a report issued on Tuesday, MarketBeat reports. The brokerage currently has an overweight rating on the medical technology company’s stock.
SYK has been the topic of several other reports. Robert W. Baird raised Stryker from a neutral rating to an outperform rating and boosted their target price for the stock from $161.00 to $173.00 in a report on Thursday, November 16th. Needham & Company LLC reissued a hold rating on shares of Stryker in a report on Friday, November 3rd. JPMorgan Chase & Co. raised Stryker from a neutral rating to an overweight rating in a report on Tuesday, January 2nd. ValuEngine raised Stryker from a hold rating to a buy rating in a report on Tuesday, November 14th. Finally, Zacks Investment Research downgraded Stryker from a hold rating to a sell rating in a report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. Stryker has an average rating of Hold and an average target price of $156.60.
Shares of Stryker (NYSE SYK) traded down $0.37 during mid-day trading on Tuesday, reaching $158.23. The company had a trading volume of 1,138,974 shares, compared to its average volume of 1,160,000. The stock has a market capitalization of $59,220.00, a PE ratio of 33.74, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78. Stryker has a 12 month low of $119.17 and a 12 month high of $164.20. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.61 and a current ratio of 2.37.
Stryker (NYSE:SYK) last released its earnings results on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, topping 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 business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the previous year, the company posted $1.39 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. equities research analysts predict that Stryker will post 6.49 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be issued a $0.47 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.88 dividend on an annualized basis and a yield of 1.19%. Stryker’s dividend payout ratio is currently 40.09%.
In other Stryker news, insider Lonny J. Carpenter sold 5,000 shares of the 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 transaction, the insider now owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 7.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Beach Investment Management LLC. purchased a new stake in Stryker in the second quarter worth about $1,924,000. Bourgeon Capital Management LLC purchased a new stake in shares of Stryker during the second quarter worth about $285,000. Accredited Investors Inc. purchased a new stake in shares of Stryker during the second quarter worth about $204,000. Rational Advisors LLC purchased a new stake in shares of Stryker during the second quarter worth about $749,000. Finally, Donaldson Capital Management LLC grew its position in shares of Stryker by 12.6% during the second quarter. Donaldson Capital Management LLC now owns 2,461 shares of the medical technology company’s stock worth $342,000 after purchasing an additional 275 shares in the last quarter. 74.90% of the stock is currently owned by institutional investors.
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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