Stryker (SYK) Earns Buy Rating from SunTrust Banks

SunTrust Banks reissued their buy rating on shares of Stryker (NYSE:SYK) in a report released on Friday, January 26th, MarketBeat reports. The firm currently has a $179.00 target price on the medical technology company’s stock, up from their previous target price of $161.00.

A number of other analysts also recently issued reports on SYK. Royal Bank of Canada reaffirmed a buy rating and issued a $155.00 target price on shares of Stryker in a research note on Monday, October 2nd. Cowen set a $160.00 price objective on Stryker and gave the stock a buy rating in a research report on Friday, October 6th. Zacks Investment Research downgraded Stryker from a hold rating to a sell rating in a research report on Monday, October 16th. Robert W. Baird reaffirmed a hold rating and issued a $161.00 target price on shares of Stryker in a research report on Friday, October 27th. Finally, Piper Jaffray Companies reaffirmed a buy rating and issued a $156.00 target price on shares of Stryker in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $162.50.

Stryker (NYSE:SYK) opened at $153.66 on Friday. Stryker has a fifty-two week low of $122.78 and a fifty-two week high of $170.00. The company has a current ratio of 2.29, a quick ratio of 1.59 and a debt-to-equity ratio of 0.66. The stock has a market cap of $57,510.00, a PE ratio of 57.34, a PEG ratio of 2.17 and a beta of 0.70.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.01. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.42 billion. Stryker had a net margin of 8.20% and a return on equity of 24.56%. Stryker’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 EPS. sell-side analysts forecast that Stryker will post 7.12 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, March 28th. Stryker’s payout ratio is currently 70.15%.

In other Stryker news, Director Howard E. Cox, Jr. sold 7,400 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $164.09, for a total transaction of $1,214,266.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP William E. Berry, Jr. sold 1,306 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $164.42, for a total value of $214,732.52. The disclosure for this sale can be found here. Insiders have sold 16,840 shares of company stock worth $2,749,989 in the last ninety days. 7.40% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYK. Beach Investment Management LLC. acquired a new stake in Stryker during the second quarter worth about $1,924,000. Synovus Financial Corp grew its stake in shares of Stryker by 4.6% in the second quarter. Synovus Financial Corp now owns 3,997 shares of the medical technology company’s stock valued at $553,000 after buying an additional 174 shares in the last quarter. Intercontinental Wealth Advisors LLC acquired a new stake in shares of Stryker in the second quarter valued at about $347,000. Meiji Yasuda Life Insurance Co acquired a new stake in shares of Stryker in the second quarter valued at about $402,000. Finally, Armor Investment Advisors LLC grew its stake in shares of Stryker by 1.0% in the second quarter. Armor Investment Advisors LLC now owns 5,000 shares of the medical technology company’s stock valued at $694,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 74.71% 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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