Stryker (NYSE:SYK) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Stryker (NYSE:SYK) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada reissued an outperform rating and set a $386.00 price target on shares of Stryker in a research report on Wednesday, July 31st. Needham & Company LLC upped their price target on Stryker from $392.00 to $393.00 and gave the company a buy rating in a research report on Thursday, August 1st. Evercore ISI upped their price target on Stryker from $365.00 to $380.00 and gave the company an outperform rating in a research report on Tuesday. UBS Group upped their price target on Stryker from $351.00 to $366.00 and gave the company a neutral rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley upped their price target on Stryker from $345.00 to $350.00 and gave the company an equal weight rating in a research report on Monday, July 15th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $379.37.

Stryker Stock Performance

Shares of SYK opened at $351.61 on Tuesday. The business’s 50 day moving average is $349.38 and its two-hundred day moving average is $343.18. Stryker has a 52-week low of $249.98 and a 52-week high of $374.63. The firm has a market cap of $133.95 billion, a price-to-earnings ratio of 40.14, a PEG ratio of 2.78 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the company posted $2.54 EPS. Stryker’s quarterly revenue was up 8.5% on a year-over-year basis. Analysts forecast that Stryker will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.91%. Stryker’s payout ratio is 36.53%.

Insider Transactions at Stryker

In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Centennial Bank AR boosted its stake in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Stryker during the first quarter valued at about $39,000. Accent Capital Management LLC purchased a new stake in shares of Stryker during the fourth quarter valued at $60,000. Sachetta LLC lifted its holdings in shares of Stryker by 16.3% during the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after purchasing an additional 34 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of Stryker by 17.9% during the first quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock valued at $94,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.