Stryker (NYSE:SYK) Receives “Market Perform” Rating from JMP Securities

JMP Securities restated their market perform rating on shares of Stryker (NYSE:SYK) in a research report report published on Tuesday morning,Benzinga reports.

A number of other analysts have also recently weighed in on SYK. Royal Bank of Canada reissued an “outperform” rating and set a $425.00 target price on shares of Stryker in a report on Tuesday. Citigroup raised their target price on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. BTIG Research upped their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group raised their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research report on Wednesday, January 1st. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $405.80.

Stryker Stock Performance

Shares of SYK stock opened at $355.17 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The stock has a market capitalization of $135.40 billion, a price-to-earnings ratio of 38.07, a PEG ratio of 2.82 and a beta of 0.95. Stryker has a one year low of $294.34 and a one year high of $398.20. The company’s 50-day simple moving average is $375.25 and its 200-day simple moving average is $357.42.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the firm earned $2.46 EPS. The business’s revenue was up 11.9% on a year-over-year basis. Equities analysts anticipate that Stryker will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.95%. Stryker’s dividend payout ratio (DPR) is 36.01%.

Insider Activity

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SYK. Parnassus Investments LLC bought a new stake in shares of Stryker during the 3rd quarter worth $762,798,000. International Assets Investment Management LLC boosted its position in shares of Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after purchasing an additional 852,496 shares during the period. RTW Investments LP purchased a new position in Stryker in the 3rd quarter worth about $143,392,000. American Century Companies Inc. raised its holdings in Stryker by 287.6% during the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after buying an additional 375,166 shares during the period. Finally, State Street Corp lifted its stake in Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after buying an additional 316,404 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Company Profile

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.