Stryker Corporation’s (SYK) “Buy” Rating Reiterated at SunTrust Banks, Inc.
Stryker Corporation (NYSE:SYK)‘s stock had its “buy” rating reiterated by equities research analysts at SunTrust Banks, Inc. in a research report issued on Friday. They presently have a $161.00 price objective on the medical technology company’s stock. SunTrust Banks, Inc.’s price objective indicates a potential upside of 3.60% from the stock’s previous close.
Several other research firms also recently weighed in on SYK. Cowen and Company set a $166.00 price objective on Stryker Corporation and gave the company a “buy” rating in a research note on Sunday, October 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker Corporation in a research note on Friday, November 3rd. Oppenheimer Holdings, Inc. set a $156.00 price objective on Stryker Corporation and gave the company a “hold” rating in a research note on Monday, October 30th. Robert W. Baird raised Stryker Corporation from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $161.00 to $173.00 in a research report on Thursday. Finally, ValuEngine raised Stryker Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. Stryker Corporation presently has an average rating of “Hold” and a consensus price target of $152.10.
Shares of Stryker Corporation (SYK) traded down $1.08 during trading hours on Friday, hitting $155.40. The stock had a trading volume of 936,961 shares, compared to its average volume of 1,178,730. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.37 and a quick ratio of 1.61. The firm has a market capitalization of $58,560.00, a price-to-earnings ratio of 24.72, a PEG ratio of 2.46 and a beta of 0.79. Stryker Corporation has a 12-month low of $108.29 and a 12-month high of $160.62.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.02. Stryker Corporation had a return on equity of 24.11% and a net margin of 14.67%. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. analysts forecast that Stryker Corporation will post 6.47 earnings per share for the current year.
In other Stryker Corporation news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $155.34, for a total value of $776,700.00. Following the completion of the sale, the insider now owns 83,207 shares of the company’s stock, valued at approximately $12,925,375.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.40% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. FDO Partners LLC purchased a new stake in Stryker Corporation during the first quarter worth about $1,109,000. PNC Financial Services Group Inc. boosted its position in shares of Stryker Corporation by 41.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,403,420 shares of the medical technology company’s stock valued at $184,759,000 after acquiring an additional 414,715 shares during the period. Legal & General Group Plc boosted its position in shares of Stryker Corporation by 6.6% in the first quarter. Legal & General Group Plc now owns 1,678,303 shares of the medical technology company’s stock valued at $220,953,000 after acquiring an additional 103,309 shares during the period. Hartland & Co. LLC boosted its position in shares of Stryker Corporation by 1.4% in the first quarter. Hartland & Co. LLC now owns 1,860 shares of the medical technology company’s stock valued at $245,000 after acquiring an additional 25 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its position in shares of Stryker Corporation by 0.3% in the first quarter. Segall Bryant & Hamill LLC now owns 31,719 shares of the medical technology company’s stock valued at $4,176,000 after acquiring an additional 105 shares during the period. 74.15% of the stock is currently owned by institutional investors and hedge funds.
About Stryker Corporation
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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