Traders Buy Stryker (SYK) on Weakness

Traders purchased shares of Stryker Corporation (NYSE:SYK) on weakness during trading on Friday. $64.94 million flowed into the stock on the tick-up and $30.83 million flowed out of the stock on the tick-down, for a money net flow of $34.11 million into the stock. Of all companies tracked, Stryker had the 24th highest net in-flow for the day. Stryker traded down ($0.37) for the day and closed at $158.23

Several brokerages have recently commented on SYK. Piper Jaffray Companies boosted their price objective on Stryker from $156.00 to $166.00 and gave the stock an “overweight” rating in a report on Tuesday. Royal Bank of Canada reissued a “buy” rating and set a $175.00 price objective on shares of Stryker in a report on Tuesday. Cowen set a $166.00 price objective on Stryker and gave the stock a “buy” rating in a report on Sunday, October 29th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $163.00 target price on shares of Stryker in a research note on Friday, January 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a research note on Friday, November 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $156.60.

The company has a market cap of $59,220.00, a P/E ratio of 33.74, a PEG ratio of 2.30 and a beta of 0.78. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.63.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.02. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.97 billion. Stryker had a return on equity of 24.11% and a net margin of 14.67%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.39 earnings per share. analysts predict that Stryker Corporation will post 6.47 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Thursday, December 28th. This is a positive change from Stryker’s previous quarterly dividend of $0.43. Stryker’s dividend payout ratio is 40.09%.

In other news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total transaction of $776,700.00. Following the completion of the sale, the insider now owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in SYK. Coldstream Capital Management Inc. raised its holdings in shares of Stryker by 3.7% during the second quarter. Coldstream Capital Management Inc. now owns 17,445 shares of the medical technology company’s stock valued at $2,421,000 after acquiring an additional 626 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of Stryker by 2.5% during the third quarter. Retirement Systems of Alabama now owns 234,870 shares of the medical technology company’s stock valued at $33,356,000 after acquiring an additional 5,656 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Stryker by 25.8% during the second quarter. Toronto Dominion Bank now owns 105,403 shares of the medical technology company’s stock valued at $14,625,000 after acquiring an additional 21,585 shares in the last quarter. Colonial Trust Advisors raised its holdings in shares of Stryker by 56.1% during the second quarter. Colonial Trust Advisors now owns 23,446 shares of the medical technology company’s stock valued at $3,254,000 after acquiring an additional 8,426 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its holdings in shares of Stryker by 3.1% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 55,255 shares of the medical technology company’s stock valued at $7,847,000 after acquiring an additional 1,683 shares in the last quarter. 74.90% of the stock is owned by hedge funds and other institutional investors.

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About Stryker

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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