Stock analysts at Raymond James Financial assumed coverage on shares of Stryker (NYSE:SYK) in a report released on Thursday. The firm set an “outperform” rating and a $183.00 price target on the medical technology company’s stock. Raymond James Financial’s target price suggests a potential upside of 9.25% from the stock’s previous close.
Several other brokerages also recently issued reports on SYK. Robert W. Baird raised shares of Stryker from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $161.00 to $173.00 in a research report on Thursday, November 16th. SunTrust Banks reissued a “buy” rating and set a $161.00 price objective on shares of Stryker in a research report on Friday, November 17th. Leerink Swann increased their price objective on shares of Stryker from $177.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Zacks Investment Research downgraded shares of Stryker from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. Finally, BMO Capital Markets raised shares of Stryker to a “market perform” rating and set a $163.00 price objective for the company in a research report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $164.76.
Shares of Stryker (SYK) opened at $167.51 on Thursday. The company has a current ratio of 2.29, a quick ratio of 1.59 and a debt-to-equity ratio of 0.66. Stryker has a 12-month low of $129.82 and a 12-month high of $170.00. The stock has a market cap of $62,332.94, a price-to-earnings ratio of 62.50, a PEG ratio of 2.39 and a beta of 0.70.
Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.01. Stryker had a net margin of 8.20% and a return on equity of 24.56%. The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the prior year, the firm earned $1.78 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. research analysts expect that Stryker will post 7.12 EPS for the current fiscal year.
In other Stryker news, insider Graham A. Mclean sold 2,984 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $160.53, for a total value of $479,021.52. Following the completion of the sale, the insider now owns 9,100 shares in the company, valued at $1,460,823. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Yin C. Becker sold 23,221 shares of the stock in a transaction on Friday, March 9th. The shares were sold at an average price of $165.96, for a total transaction of $3,853,757.16. Following the completion of the sale, the vice president now owns 10,499 shares of the company’s stock, valued at approximately $1,742,414.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,611 shares of company stock valued at $7,178,719. Corporate insiders own 7.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Truewealth LLC acquired a new stake in Stryker in the fourth quarter valued at $110,000. Sawyer & Company Inc acquired a new stake in Stryker in the fourth quarter valued at $125,000. Sit Investment Associates Inc. lifted its stake in Stryker by 114.3% in the fourth quarter. Sit Investment Associates Inc. now owns 825 shares of the medical technology company’s stock valued at $128,000 after acquiring an additional 440 shares during the last quarter. Virtue Capital Management LLC acquired a new stake in Stryker in the fourth quarter valued at $133,000. Finally, Oak Point Wealth Management acquired a new stake in Stryker in the fourth quarter valued at $145,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.
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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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