Stryker (NYSE:SYK) Earns “Hold” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Stryker (NYSE:SYK) in a report released on Wednesday morning, Benzinga reports.

A number of other brokerages also recently weighed in on SYK. TD Cowen upped their price target on shares of Stryker from $365.00 to $400.00 and gave the stock a buy rating in a report on Thursday, April 11th. Canaccord Genuity Group upgraded Stryker from a hold rating to a buy rating and set a $360.00 target price for the company in a research note on Wednesday, January 31st. Citigroup raised their target price on Stryker from $362.00 to $406.00 and gave the company a buy rating in a report on Wednesday, April 3rd. BTIG Research boosted their price target on Stryker from $366.00 to $369.00 and gave the stock a buy rating in a report on Wednesday. Finally, Canaccord Genuity Group raised Stryker from a hold rating to a buy rating and raised their price objective for the company from $315.00 to $360.00 in a research note on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Stryker currently has an average rating of Moderate Buy and a consensus target price of $365.94.

Stryker Trading Up 0.6 %

Shares of SYK stock opened at $328.45 on Wednesday. The stock has a 50 day simple moving average of $347.52 and a 200 day simple moving average of $316.85. Stryker has a 1 year low of $249.98 and a 1 year high of $361.41. The company has a current ratio of 1.71, a quick ratio of 0.97 and a debt-to-equity ratio of 0.56. The stock has a market cap of $124.97 billion, a P/E ratio of 37.49, a price-to-earnings-growth ratio of 2.63 and a beta of 0.91.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. Stryker’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.14 EPS. On average, research analysts predict that Stryker will post 11.93 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were given a dividend of $0.80 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Stryker

A number of institutional investors have recently modified their holdings of SYK. Aspen Investment Management Inc raised its holdings in Stryker by 0.7% during the first quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock worth $1,563,000 after buying an additional 31 shares during the last quarter. Harbor Investment Advisory LLC boosted its stake in Stryker by 0.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock valued at $2,499,000 after purchasing an additional 31 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in Stryker by 2.4% during the 1st quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after purchasing an additional 33 shares in the last quarter. Bremer Bank National Association raised its stake in shares of Stryker by 4.0% in the fourth quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock worth $266,000 after purchasing an additional 34 shares during the last quarter. Finally, Simon Quick Advisors LLC lifted its holdings in shares of Stryker by 3.0% in the fourth quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock valued at $347,000 after purchasing an additional 34 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

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.