Stryker (SYK) Given “Hold” Rating at Needham & Company LLC

Stryker (NYSE:SYK)‘s stock had its “hold” rating restated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Wednesday.

The analysts wrote, “On 1/9/18, SYK preannounced 4Q17 revenue that was above consensus. Management refrained from providing 2018 guidance, however, and plans to provide this on its 4Q17 call on Tuesday, 1/30/18. Although there was no guidance, management did indicate that tax reform would create a modest headwind” to its earnings in 2018. SYK placed 35 Mako systems in 4Q17, which was up modestly from 33 in 3Q17 and 32 in 4Q16; SYK noted that Mako helped to drive 10.5% US knee growth in 4Q17. Clearly 4Q17 was another strong quarter for SYK but we maintain our Hold rating given its valuation (2018E P/E of 22.5x, which is approximately in line with its large-cap peers’ median of 22.9x).””

Several other brokerages have also recently issued reports on SYK. Robert W. Baird upgraded Stryker from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $161.00 to $173.00 in a research note on Thursday, November 16th. SunTrust Banks restated a “buy” rating and set a $161.00 price objective on shares of Stryker in a research note on Friday, November 17th. Wells Fargo & Co raised their price objective on Stryker from $160.00 to $166.00 in a research note on Friday, October 27th. Barclays raised their price objective on Stryker from $137.00 to $148.00 and gave the stock an “underweight” rating in a research note on Friday, October 27th. Finally, Zacks Investment Research upgraded Stryker from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Two 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. The stock has an average rating of “Hold” and an average target price of $156.60.

Shares of Stryker (NYSE SYK) opened at $159.47 on Wednesday. Stryker has a 1 year low of $119.17 and a 1 year 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. The firm has a market cap of $59,680.00, a P/E ratio of 34.00, a PEG ratio of 2.27 and a beta of 0.78.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.02. Stryker had a net margin of 14.67% and a return on equity of 24.11%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter last year, the company earned $1.39 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. research analysts expect that Stryker will post 6.49 EPS for the current fiscal year.

In other Stryker news, insider Lonny J. Carpenter sold 5,000 shares of the firm’s 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 sale, the insider now directly owns 83,207 shares in the company, valued at $12,925,375.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC bought a new stake in shares of Stryker during the second quarter valued at about $111,000. Motco raised its stake in shares of Stryker by 50.7% during the second quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 278 shares in the last quarter. Sawyer & Company Inc bought a new stake in shares of Stryker during the fourth quarter valued at about $125,000. Sit Investment Associates Inc. raised its stake in shares of Stryker by 114.3% during the fourth quarter. Sit Investment Associates Inc. now owns 825 shares of the medical technology company’s stock valued at $128,000 after purchasing an additional 440 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA raised its stake in shares of Stryker by 47.8% during the third quarter. San Francisco Sentry Investment Group CA now owns 1,005 shares of the medical technology company’s stock valued at $143,000 after purchasing an additional 325 shares in the last quarter. Institutional investors and hedge funds own 74.88% of the company’s stock.

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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.

Analyst Recommendations for Stryker (NYSE:SYK)

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