Analysts at Raymond James Financial initiated coverage on shares of Stryker (NYSE:SYK) in a research note issued to investors on Thursday, March 15th, Marketbeat.com reports. 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 would suggest a potential upside of 16.14% from the stock’s previous close.
Other analysts also recently issued research reports about the company. Robert W. Baird upgraded Stryker from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $161.00 to $173.00 in a research note on Thursday, November 16th. SunTrust Banks reaffirmed a “buy” rating and issued a $161.00 price target on shares of Stryker in a report on Friday, November 17th. Leerink Swann increased their price target on 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 lowered Stryker from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. Finally, BMO Capital Markets raised Stryker to a “market perform” rating and set a $163.00 price target on the stock in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $164.76.
Shares of SYK stock opened at $157.57 on Thursday. Stryker has a 12 month low of $129.82 and a 12 month high of $170.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.59 and a current ratio of 2.29. The firm has a market capitalization of $61,714.77, a price-to-earnings ratio of 58.79, a price-to-earnings-growth ratio of 2.37 and a beta of 0.70.
Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.01. Stryker had a return on equity of 24.56% and a net margin of 8.20%. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same period in the previous year, the firm earned $1.78 earnings per share. Stryker’s revenue for the quarter was up 9.9% compared to the same quarter last year. equities research analysts expect that Stryker will post 7.12 earnings per share for the current fiscal year.
In other Stryker news, insider David Floyd sold 55,119 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $166.58, for a total value of $9,181,723.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Kevin Lobo sold 39,808 shares of the stock in a transaction that occurred on Thursday, March 22nd. The shares were sold at an average price of $162.90, for a total transaction of $6,484,723.20. The disclosure for this sale can be found here. Insiders sold a total of 142,386 shares of company stock worth $23,472,005 in the last 90 days. 7.40% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Chemical Bank boosted its holdings in Stryker by 24.1% in the 4th quarter. Chemical Bank now owns 12,936 shares of the medical technology company’s stock worth $2,003,000 after buying an additional 2,515 shares during the period. Green Square Capital LLC boosted its holdings in Stryker by 148.5% in the 4th quarter. Green Square Capital LLC now owns 5,606 shares of the medical technology company’s stock worth $871,000 after buying an additional 3,350 shares during the period. Rehmann Capital Advisory Group boosted its holdings in Stryker by 7.8% in the 4th quarter. Rehmann Capital Advisory Group now owns 5,306 shares of the medical technology company’s stock worth $822,000 after buying an additional 385 shares during the period. Colonial Trust Advisors boosted its holdings in Stryker by 40.9% in the 4th quarter. Colonial Trust Advisors now owns 33,883 shares of the medical technology company’s stock worth $5,246,000 after buying an additional 9,836 shares during the period. Finally, Xact Kapitalforvaltning AB boosted its holdings in Stryker by 7.3% in the 4th quarter. Xact Kapitalforvaltning AB now owns 57,539 shares of the medical technology company’s stock worth $8,909,000 after buying an additional 3,912 shares during the period. 75.68% of the stock is owned by hedge funds and other institutional investors.
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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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