Stryker (SYK) Price Target Raised to $200.00 at JPMorgan Chase & Co.
Stryker (NYSE:SYK) had its price target upped by JPMorgan Chase & Co. to $200.00 in a research report released on Thursday, September 13th, The Fly reports. They currently have an overweight rating on the medical technology company’s stock.
Several other analysts also recently weighed in on SYK. Zacks Investment Research downgraded Stryker from a buy rating to a hold rating in a report on Friday, May 18th. ValuEngine downgraded shares of Stryker from a buy rating to a hold rating in a report on Tuesday, June 12th. Cantor Fitzgerald reiterated a hold rating and issued a $170.00 target price on shares of Stryker in a report on Wednesday, June 13th. Sanford C. Bernstein assumed coverage on shares of Stryker in a report on Wednesday, June 27th. They issued a market perform rating and a $177.00 target price for the company. Finally, BMO Capital Markets reiterated a hold rating and issued a $174.00 target price on shares of Stryker in a report on Thursday, July 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. Stryker presently has a consensus rating of Buy and an average target price of $178.33.
Shares of SYK opened at $174.09 on Thursday. The firm has a market cap of $66.45 billion, a PE ratio of 26.82, a P/E/G ratio of 2.49 and a beta of 0.59. Stryker has a 12-month low of $143.55 and a 12-month high of $179.84. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.63.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Friday, September 28th will be given a $0.47 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.88 dividend on an annualized basis and a yield of 1.08%. Stryker’s dividend payout ratio is currently 28.97%.
In other Stryker news, CFO Glenn S. Boehnlein sold 750 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $178.17, for a total value of $133,627.50. Following the sale, the chief financial officer now owns 2,785 shares in the company, valued at approximately $496,203.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Katherine Ann Owen sold 37,866 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $166.84, for a total value of $6,317,563.44. Following the completion of the sale, the vice president now owns 11,367 shares in the company, valued at approximately $1,896,470.28. The disclosure for this sale can be found here. 7.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. MayTech Global Investments LLC raised its stake in shares of Stryker by 9.5% during the 2nd quarter. MayTech Global Investments LLC now owns 18,487 shares of the medical technology company’s stock worth $3,122,000 after buying an additional 1,604 shares during the period. Chartwell Investment Partners LLC acquired a new position in Stryker in the 2nd quarter valued at $1,409,000. Nissay Asset Management Corp Japan ADV raised its stake in Stryker by 1.4% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 40,024 shares of the medical technology company’s stock valued at $6,758,000 after purchasing an additional 544 shares during the last quarter. Quest Investment Management LLC acquired a new position in Stryker in the 2nd quarter valued at $12,762,000. Finally, BlackRock Inc. raised its stake in Stryker by 2.7% in the 2nd quarter. BlackRock Inc. now owns 24,551,677 shares of the medical technology company’s stock valued at $4,145,795,000 after purchasing an additional 646,505 shares during the last quarter. Institutional investors and hedge funds own 75.11% of the company’s stock.
Stryker Company Profile
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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