Stryker (NYSE:SYK) Reaches New 1-Year Low at $193.45

Stryker Co. (NYSE:SYKGet Rating) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $193.45 and last traded at $195.08, with a volume of 2188 shares. The stock had previously closed at $195.70.

Several equities analysts have commented on SYK shares. Sanford C. Bernstein raised Stryker from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $288.00 to $295.00 in a research report on Wednesday, March 16th. TheStreet cut Stryker from a “b” rating to a “c+” rating in a research note on Monday, May 2nd. Evercore ISI reaffirmed an “outperform” rating and set a $284.00 target price on shares of Stryker in a report on Tuesday, March 15th. Bank of America began coverage on Stryker in a report on Tuesday, March 1st. They issued a “buy” rating on the stock. Finally, Citigroup decreased their target price on Stryker from $310.00 to $280.00 in a research report on Tuesday, May 17th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $291.88.

The company has a market capitalization of $75.65 billion, a price-to-earnings ratio of 38.03, a P/E/G ratio of 2.18 and a beta of 0.99. The company has a 50-day moving average price of $231.79 and a 200-day moving average price of $250.31. The company has a quick ratio of 1.18, a current ratio of 1.98 and a debt-to-equity ratio of 0.92.

Stryker (NYSE:SYKGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The medical technology company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.04. Stryker had a net margin of 11.56% and a return on equity of 24.09%. The firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter last year, the company earned $1.93 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts expect that Stryker Co. will post 9.64 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Thursday, June 30th will be issued a dividend of $0.695 per share. This represents a $2.78 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Wednesday, June 29th. Stryker’s dividend payout ratio is presently 52.85%.

Hedge funds have recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC lifted its position in Stryker by 6.3% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 645 shares of the medical technology company’s stock worth $172,000 after buying an additional 38 shares in the last quarter. Manchester Capital Management LLC grew its stake in Stryker by 19.8% in the 4th quarter. Manchester Capital Management LLC now owns 242 shares of the medical technology company’s stock valued at $65,000 after buying an additional 40 shares during the last quarter. Vigilant Capital Management LLC grew its stake in Stryker by 9.6% in the 1st quarter. Vigilant Capital Management LLC now owns 458 shares of the medical technology company’s stock valued at $122,000 after buying an additional 40 shares during the last quarter. Capital City Trust Co. FL grew its stake in Stryker by 3.4% in the 1st quarter. Capital City Trust Co. FL now owns 1,200 shares of the medical technology company’s stock valued at $321,000 after buying an additional 40 shares during the last quarter. Finally, Evergreen Wealth Solutions LLC grew its position in shares of Stryker by 2.9% during the 1st quarter. Evergreen Wealth Solutions LLC now owns 1,414 shares of the medical technology company’s stock worth $378,000 after purchasing an additional 40 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

About Stryker (NYSE:SYK)

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

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