Stryker (NYSE:SYK) Rating Reiterated by Svb Leerink

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Svb Leerink restated their outperform rating on shares of Stryker (NYSE:SYK) in a report published on Wednesday, Zacks.com reports. Svb Leerink also issued estimates for Stryker’s Q2 2019 earnings at $1.94 EPS, Q3 2019 earnings at $1.88 EPS, Q4 2019 earnings at $2.43 EPS and FY2020 earnings at $8.98 EPS.

SYK has been the subject of several other research reports. Deutsche Bank boosted their price target on shares of Texas Instruments from $100.00 to $110.00 and gave the stock a hold rating in a report on Wednesday, April 24th. Cantor Fitzgerald reiterated a hold rating and set a $68.00 price target on shares of Ionis Pharmaceuticals in a report on Wednesday, April 24th. Wells Fargo & Co reiterated a hold rating on shares of Perrigo in a report on Tuesday, July 2nd. Robert W. Baird lowered their price target on shares of Waters from $211.00 to $209.00 and set a neutral rating for the company in a report on Wednesday, April 24th. Finally, ValuEngine upgraded shares of Yirendai from a strong sell rating to a sell rating in a report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Stryker presently has a consensus rating of Buy and a consensus target price of $201.41.

NYSE SYK opened at $206.40 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 2.12 and a debt-to-equity ratio of 0.68. Stryker has a 52 week low of $144.75 and a 52 week high of $210.85. The firm has a market cap of $78.00 billion, a PE ratio of 28.24, a PEG ratio of 2.53 and a beta of 0.87. The business’s 50 day moving average price is $197.39.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. Stryker had a net margin of 25.38% and a return on equity of 26.72%. The company had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter in the previous year, the business posted $1.68 EPS. The firm’s revenue was up 8.5% on a year-over-year basis. Sell-side analysts predict that Stryker will post 8.15 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Thursday, June 27th. Stryker’s payout ratio is 28.45%.

In other news, VP Bijoy Sagar sold 2,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $190.43, for a total value of $380,860.00. Following the completion of the transaction, the vice president now owns 3,350 shares in the company, valued at approximately $637,940.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Timothy J. Scannell sold 4,666 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $186.71, for a total transaction of $871,188.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,377 shares of company stock valued at $4,081,972. Company insiders own 7.20% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in Stryker in the 4th quarter valued at $474,132,000. FMR LLC raised its position in Stryker by 13.4% in the 1st quarter. FMR LLC now owns 6,728,182 shares of the medical technology company’s stock valued at $1,328,951,000 after purchasing an additional 793,560 shares during the last quarter. GQG Partners LLC purchased a new stake in Stryker in the 4th quarter valued at $116,175,000. Ellis Investment Partners LLC raised its position in Stryker by 19,658.9% in the 1st quarter. Ellis Investment Partners LLC now owns 367,318 shares of the medical technology company’s stock valued at $367,000 after purchasing an additional 365,459 shares during the last quarter. Finally, Deutsche Bank AG raised its position in Stryker by 66.2% in the 4th quarter. Deutsche Bank AG now owns 863,390 shares of the medical technology company’s stock valued at $135,330,000 after purchasing an additional 343,913 shares during the last quarter. Institutional investors and hedge funds own 73.58% of the company’s stock.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

See Also: Dead Cat Bounce

Analyst Recommendations for Stryker (NYSE:SYK)

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