Stryker (NYSE:SYK) had its price objective lifted by Credit Suisse Group from $200.00 to $232.00 in a research note published on Thursday morning, The Fly reports. Credit Suisse Group currently has an outperform rating on the medical technology company’s stock.
SYK has been the subject of several other research reports. Svb Leerink reaffirmed an outperform rating on shares of Stryker in a research report on Wednesday. Cantor Fitzgerald reaffirmed a hold rating and issued a $68.00 price target on shares of Ionis Pharmaceuticals in a research report on Wednesday, April 24th. Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a research report on Tuesday, June 11th. Wells Fargo & Co reaffirmed a hold rating on shares of Perrigo in a research report on Tuesday, July 2nd. Finally, Robert W. Baird lowered their price target on Waters from $211.00 to $209.00 and set a neutral rating for the company in a research report on Wednesday, April 24th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Stryker has an average rating of Buy and a consensus price target of $201.41.
Shares of Stryker stock opened at $206.40 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.12 and a quick ratio of 1.30. The stock has a market capitalization of $78.67 billion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 2.55 and a beta of 0.87. The firm’s fifty day moving average price is $197.39. Stryker has a 12 month low of $144.75 and a 12 month high of $210.85.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 23rd. The medical technology company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.84 by $0.04. The business had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.51 billion. Stryker had a return on equity of 26.72% and a net margin of 25.38%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.68 earnings per share. As a group, equities analysts expect that Stryker will post 8.15 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.08 annualized dividend and a yield of 1.01%. Stryker’s payout ratio is 28.45%.
In related news, Director Louise Francesconi sold 2,679 shares of Stryker stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $187.25, for a total value of $501,642.75. Following the completion of the sale, the director now directly owns 15,598 shares in the company, valued at approximately $2,920,725.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Timothy J. Scannell sold 4,666 shares of Stryker stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $192.40, for a total value of $897,738.40. The disclosure for this sale can be found here. Insiders sold a total of 21,377 shares of company stock valued at $4,081,972 over the last quarter. 7.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Stryker by 0.6% in the 1st quarter. BlackRock Inc. now owns 25,036,303 shares of the medical technology company’s stock worth $4,945,168,000 after buying an additional 153,391 shares in the last quarter. FMR LLC increased its holdings in Stryker by 13.4% in the 1st quarter. FMR LLC now owns 6,728,182 shares of the medical technology company’s stock worth $1,328,951,000 after buying an additional 793,560 shares in the last quarter. Fundsmith LLP increased its holdings in Stryker by 1.0% in the 1st quarter. Fundsmith LLP now owns 5,581,841 shares of the medical technology company’s stock worth $1,102,525,000 after buying an additional 52,688 shares in the last quarter. Northern Trust Corp increased its holdings in Stryker by 1.2% in the 1st quarter. Northern Trust Corp now owns 3,903,582 shares of the medical technology company’s stock worth $771,036,000 after buying an additional 46,183 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Stryker by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 3,665,205 shares of the medical technology company’s stock worth $573,387,000 after buying an additional 224,785 shares in the last quarter. Institutional investors own 73.58% of the company’s stock.
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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