Raymond James Financial initiated coverage on shares of Stryker (NYSE:SYK) in a research note issued on Thursday, March 15th, Marketbeat.com reports. The brokerage set an “outperform” rating and a $183.00 price target on the medical technology company’s stock. Raymond James Financial’s price target would indicate a potential upside of 17.94% from the stock’s previous close.
Other equities analysts also recently issued research reports about the company. Royal Bank of Canada reissued a “buy” rating and set a $175.00 price target on shares of Stryker in a research report on Tuesday, January 9th. SunTrust Banks reissued a “buy” rating and set a $161.00 price target on shares of Stryker in a research report on Friday, November 17th. Piper Jaffray reissued a “buy” rating and set a $170.00 price target on shares of Stryker in a research report on Wednesday, January 31st. Guggenheim reissued a “buy” rating on shares of Stryker in a research report on Wednesday, January 31st. Finally, ValuEngine raised Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. Stryker presently has an average rating of “Buy” and a consensus target price of $164.77.
NYSE SYK traded down $4.90 during mid-day trading on Thursday, hitting $155.17. The stock had a trading volume of 929,540 shares, compared to its average volume of 1,128,041. Stryker has a 52-week low of $129.82 and a 52-week high of $170.00. The company has a market capitalization of $58,133.20, a P/E ratio of 23.91, a PEG ratio of 2.23 and a beta of 0.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.29 and a quick ratio of 1.59.
Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.01. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.42 billion. Stryker had a return on equity of 24.56% and a net margin of 8.20%. Stryker’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the business posted $1.78 EPS. research analysts expect that Stryker will post 7.12 earnings per share for the current fiscal year.
In related news, insider David Floyd sold 55,119 shares of Stryker stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $166.58, for a total value of $9,181,723.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Graham A. Mclean sold 2,984 shares of Stryker 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 transaction, the insider now owns 9,100 shares in the company, valued at approximately $1,460,823. The disclosure for this sale can be found here. Insiders have sold 142,489 shares of company stock worth $23,488,485 in the last 90 days. Insiders own 7.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of SYK. Signature Estate & Investment Advisors LLC lifted its stake in shares of Stryker by 5.7% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 14,958 shares of the medical technology company’s stock worth $2,316,000 after purchasing an additional 804 shares in the last quarter. Cornerstone Capital Management Holdings LLC. lifted its stake 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 worth $7,847,000 after purchasing an additional 1,683 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Stryker during the third quarter worth about $538,000. State of Alaska Department of Revenue lifted its stake in shares of Stryker by 216.4% during the fourth quarter. State of Alaska Department of Revenue now owns 48,095 shares of the medical technology company’s stock worth $7,445,000 after purchasing an additional 32,892 shares in the last quarter. Finally, Nuance Investments LLC lifted its stake in shares of Stryker by 10.8% during the third quarter. Nuance Investments LLC now owns 24,624 shares of the medical technology company’s stock worth $3,497,000 after purchasing an additional 2,406 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.
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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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