Stryker Corporation’s (NYSE:SYK) Buy Rating Reiterated at SunTrust Banks, Inc.
SunTrust Banks, Inc. restated their buy rating on shares of Stryker Corporation (NYSE:SYK) in a research note released on Monday, October 2nd. The firm currently has a $161.00 price objective on the medical technology company’s stock.
SYK has been the subject of several other research reports. Stifel Nicolaus boosted their price objective on shares of Stryker Corporation from $151.00 to $158.00 and gave the stock a buy rating in a research report on Friday, July 28th. BidaskClub lowered shares of Stryker Corporation from a buy rating to a hold rating in a report on Monday, July 31st. Canaccord Genuity reissued a buy rating and issued a $155.00 price target (down previously from $158.00) on shares of Stryker Corporation in a report on Thursday, August 24th. Argus reissued a buy rating and issued a $160.00 price target on shares of Stryker Corporation in a report on Tuesday, August 29th. Finally, Zacks Investment Research raised shares of Stryker Corporation from a hold rating to a buy rating and set a $163.00 target price for the company in a research note on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $146.78.
Shares of Stryker Corporation (NYSE SYK) traded up 0.09% during trading on Monday, hitting $146.69. The stock had a trading volume of 667,239 shares. The firm has a market cap of $54.87 billion, a price-to-earnings ratio of 32.74 and a beta of 0.80. The stock has a 50-day moving average of $142.96 and a 200 day moving average of $140.48. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $149.23.
Stryker Corporation (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the previous year, the company posted $1.39 EPS. Stryker Corporation’s revenue was up 6.1% on a year-over-year basis. On average, analysts predict that Stryker Corporation will post $6.45 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.70 annualized dividend and a dividend yield of 1.16%. Stryker Corporation’s dividend payout ratio is 37.95%.
In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $146.36, for a total value of $731,800.00. Following the sale, the insider now owns 88,207 shares in the company, valued at $12,909,976.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Graham A. Mclean sold 1,124 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total transaction of $164,396.24. Following the completion of the sale, the insider now owns 8,983 shares in the company, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. Company insiders own 7.40% of the company’s stock.
Institutional investors have recently modified their holdings of the business. AT Bancorp bought a new position in shares of Stryker Corporation during the first quarter valued at $202,000. Harbour Investment Management LLC bought a new position in shares of Stryker Corporation during the first quarter valued at $2,958,000. BNP Paribas Arbitrage SA raised its stake in shares of Stryker Corporation by 462.7% during the first quarter. BNP Paribas Arbitrage SA now owns 252,230 shares of the medical technology company’s stock valued at $33,206,000 after acquiring an additional 207,409 shares during the last quarter. Nelson Roberts Investment Advisors LLC raised its stake in shares of Stryker Corporation by 2.3% during the first quarter. Nelson Roberts Investment Advisors LLC now owns 56,007 shares of the medical technology company’s stock valued at $7,373,000 after acquiring an additional 1,240 shares during the last quarter. Finally, Xact Kapitalforvaltning AB raised its stake in shares of Stryker Corporation by 13.9% during the first quarter. Xact Kapitalforvaltning AB now owns 52,254 shares of the medical technology company’s stock valued at $6,879,000 after acquiring an additional 6,393 shares during the last quarter. Hedge funds and other institutional investors own 74.13% of the company’s stock.
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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