Stryker (NYSE:SYK) Upgraded at StockNews.com

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

A number of other research firms also recently commented on SYK. Barclays raised their target price on Stryker from $374.00 to $402.00 and gave the company an overweight rating in a report on Thursday, August 1st. Evercore ISI lifted their price target on Stryker from $365.00 to $380.00 and gave the stock an outperform rating in a research note on Tuesday. BTIG Research lifted their price target on Stryker from $360.00 to $374.00 and gave the stock a buy rating in a research note on Wednesday, August 28th. Needham & Company LLC lifted their price target on Stryker from $392.00 to $393.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus cut their price target on Stryker from $375.00 to $365.00 and set a buy rating for the company in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $379.37.

Stryker Price Performance

Stryker stock opened at $351.61 on Tuesday. Stryker has a one year low of $249.98 and a one year high of $374.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The business has a fifty day moving average of $349.38 and a two-hundred day moving average of $343.18. The company has a market cap of $133.95 billion, a P/E ratio of 40.14, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 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 during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the company earned $2.54 earnings per share. Stryker’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, analysts predict that Stryker will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Insider Buying and Selling at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of Stryker stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock worth $71,811,372 in the last 90 days. 5.90% of the stock is owned by company insiders.

Institutional Trading of Stryker

A number of institutional investors have recently modified their holdings of SYK. Centennial Bank AR lifted its position in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Stryker during the 1st quarter worth approximately $39,000. Accent Capital Management LLC acquired a new position in Stryker during the 4th quarter worth approximately $60,000. Sachetta LLC lifted its position in Stryker by 16.3% during the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after acquiring an additional 34 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its position in Stryker by 17.9% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock worth $94,000 after acquiring an additional 40 shares in the last quarter. Hedge funds and other 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.