Stryker Corp. (SYK) Reaches New 1-Year High at $123.37
Shares of Stryker Corp. (NYSE:SYK) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $123.37 and last traded at $122.35, with a volume of 472,901 shares. The stock had previously closed at $122.82.
A number of analysts have issued reports on the company. Zacks Investment Research raised Stryker Corp. from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a report on Tuesday, June 21st. Guggenheim initiated coverage on Stryker Corp. in a report on Wednesday, June 8th. They issued a “buy” rating and a $134.00 target price for the company. Argus boosted their target price on Stryker Corp. from $120.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, April 27th. Sterne Agee CRT raised Stryker Corp. from a “neutral” rating to a “buy” rating and set a $130.00 target price for the company in a report on Wednesday, April 27th. Finally, Brean Capital reissued a “buy” rating and issued a $121.00 target price on shares of Stryker Corp. in a report on Wednesday, April 27th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $109.23.
The company has a market cap of $45.70 billion and a PE ratio of 28.60. The company’s 50 day moving average price is $116.01 and its 200 day moving average price is $105.85.
Stryker Corp. (NYSE:SYK) last issued its earnings results on Wednesday, April 20th. The medical technology company reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.04. The business earned $2.50 billion during the quarter, compared to the consensus estimate of $2.47 billion. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.11 EPS. On average, equities analysts forecast that Stryker Corp. will post $5.77 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Thursday, June 30th will be issued a $0.38 dividend. The ex-dividend date is Tuesday, June 28th. This represents a $1.52 dividend on an annualized basis and a yield of 1.24%.
In other news, VP Katherine Ann Owen sold 6,674 shares of Stryker Corp. stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $121.21, for a total transaction of $808,955.54. Following the sale, the vice president now owns 10,753 shares of the company’s stock, valued at $1,303,371.13. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 12,000 shares of Stryker Corp. stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $108.69, for a total value of $1,304,280.00. Following the sale, the director now directly owns 193,142 shares in the company, valued at approximately $20,992,603.98. The disclosure for this sale can be found here.
Several large investors have added to or reduced their stakes in SYK. OppenheimerFunds Inc. boosted its stake in Stryker Corp. by 24.9% in the fourth quarter. OppenheimerFunds Inc. now owns 844,321 shares of the medical technology company’s stock worth $78,480,000 after buying an additional 168,321 shares during the period. Calamos Advisors LLC boosted its stake in shares of Stryker Corp. by 0.4% in the fourth quarter. Calamos Advisors LLC now owns 1,135,982 shares of the medical technology company’s stock valued at $105,578,000 after buying an additional 4,830 shares during the last quarter. Callahan Advisors LLC boosted its stake in shares of Stryker Corp. by 4.1% in the fourth quarter. Callahan Advisors LLC now owns 42,428 shares of the medical technology company’s stock valued at $3,943,000 after buying an additional 1,681 shares during the last quarter. Long Road Investment Counsel LLC boosted its stake in shares of Stryker Corp. by 5.2% in the fourth quarter. Long Road Investment Counsel LLC now owns 49,610 shares of the medical technology company’s stock valued at $4,611,000 after buying an additional 2,472 shares during the last quarter. Finally, Stevens Capital Management LP purchased a new stake in shares of Stryker Corp. during the fourth quarter valued at approximately $10,657,000.
Stryker Corporation is a medical technology company. The Company offers a range of products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine, which help improve patient and hospital outcomes.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.