Stryker’s (SYK) “Hold” Rating Reiterated at Needham & Company LLC

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

A number of other equities analysts have also weighed in on SYK. Roth Mkm boosted their price objective on shares of Stryker from $345.00 to $348.00 and gave the company a buy rating in a research report on Wednesday, January 31st. TD Cowen increased their price target on Stryker from $365.00 to $400.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Canaccord Genuity Group upgraded Stryker from a hold rating to a buy rating and set a $360.00 price objective on the stock in a report on Wednesday, January 31st. Wells Fargo & Company increased their target price on Stryker from $336.00 to $364.00 and gave the stock an overweight rating in a research report on Wednesday, January 31st. Finally, Royal Bank of Canada lifted their price target on Stryker from $360.00 to $386.00 and gave the company an outperform rating in a report on Monday, April 15th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $365.94.

Stryker Trading Up 0.6 %

Shares of Stryker stock opened at $328.45 on Wednesday. The business has a 50 day moving average price of $346.99 and a 200 day moving average price of $317.29. The company has a market capitalization of $125.12 billion, a P/E ratio of 37.49, a P/E/G ratio of 2.55 and a beta of 0.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.97. Stryker has a 1 year low of $249.98 and a 1 year high of $361.41.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.14 earnings per share. Sell-side analysts anticipate that Stryker will post 11.94 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were given a $0.80 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. Stryker’s payout ratio is 36.53%.

Insider Activity at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, 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 SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the sale, the director now owns 3,755,128 shares of the company’s stock, 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.

Institutional Investors Weigh In On Stryker

Large investors have recently modified their holdings of the stock. Aspen Investment Management Inc raised its holdings in shares of Stryker by 0.7% during the first quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock valued at $1,563,000 after acquiring an additional 31 shares during the period. Harbor Investment Advisory LLC raised 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 period. Proficio Capital Partners LLC lifted its holdings in shares of Stryker by 2.4% in the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after purchasing an additional 33 shares in the last quarter. Bremer Bank National Association boosted its position 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 buying an additional 34 shares during the period. Finally, Simon Quick Advisors LLC grew its holdings in shares of Stryker by 3.0% during the fourth quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock valued at $347,000 after buying an additional 34 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

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.