Stryker (NYSE:SYK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $195.00 target price on the medical technology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.08% from the stock’s current price.
According to Zacks, “Stryker outperformed the industry in a year’s time. The company continues to gain from its Mako robotics platform, which has been the key driver of its core Orthopaedic segment. In fact, the company witnessed solid growth in Mako robot installations in recent times. Surging domestic sales is another positive. Moreover, solid performance in emerging markets and Europe paints a bright picture. Solid expansion in operating margin is encouraging as well. A raised guidance for 2018 buoys optimism. On the flip side, Stryker’s gross margin has been declining. Total debt on the balance sheet remains unchanged, adding to the company’s woes. The Trauma & Extremities business had moderate growth lately as it was affected by softness in the market and product supply issues. Stiff competition in the MedTech space is likely to mar Stryker’s prospects. “
A number of other analysts also recently weighed in on SYK. BTIG Research initiated coverage on Stryker in a research report on Thursday, August 16th. They set a “buy” rating and a $187.00 target price for the company. Needham & Company LLC reiterated a “hold” rating on shares of Stryker in a research report on Tuesday, September 11th. JPMorgan Chase & Co. upped their target price on Stryker to $200.00 and gave the company an “overweight” rating in a research report on Thursday, September 13th. Barclays initiated coverage on Stryker in a research report on Monday, October 15th. They set an “overweight” rating and a $198.00 target price for the company. Finally, Oppenheimer set a $170.00 target price on Stryker and gave the company a “hold” rating in a research report on Friday, October 26th. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $182.45.
NYSE:SYK opened at $172.44 on Wednesday. The firm has a market cap of $64.45 billion, a PE ratio of 26.57, a P/E/G ratio of 2.36 and a beta of 0.66. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.60. Stryker has a fifty-two week low of $146.80 and a fifty-two week high of $179.84.
Stryker (NYSE:SYK) last released its earnings results on Thursday, October 25th. The medical technology company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.01. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.26 billion. Stryker had a return on equity of 28.00% and a net margin of 9.31%. On average, research analysts expect that Stryker will post 7.28 earnings per share for the current year.
In related news, VP M Kathryn Fink sold 415 shares of the company’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $166.56, for a total transaction of $69,122.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Glenn S. Boehnlein sold 750 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $178.17, for a total value of $133,627.50. Following the sale, the chief financial officer now owns 2,785 shares of the company’s stock, valued at $496,203.45. The disclosure for this sale can be found here. 7.40% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Stryker by 2.7% in the 2nd quarter. BlackRock Inc. now owns 24,551,677 shares of the medical technology company’s stock worth $4,145,795,000 after purchasing an additional 646,505 shares in the last quarter. FMR LLC increased its holdings in Stryker by 4.8% in the 3rd quarter. FMR LLC now owns 5,581,594 shares of the medical technology company’s stock worth $991,737,000 after purchasing an additional 253,732 shares in the last quarter. Fundsmith Equity Fund L.P. acquired a new position in Stryker in the 2nd quarter worth about $931,542,000. Capital International Investors acquired a new position in Stryker in the 3rd quarter worth about $831,822,000. Finally, Alliancebernstein L.P. increased its holdings in Stryker by 61.1% in the 3rd quarter. Alliancebernstein L.P. now owns 2,448,502 shares of the medical technology company’s stock worth $435,050,000 after purchasing an additional 928,279 shares in the last quarter. Institutional investors and hedge funds own 74.72% of the company’s stock.
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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