Stryker (NYSE:SYK) Raised to “Buy” 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.

Several other brokerages have also commented on SYK. Roth Mkm raised their price target on Stryker from $348.00 to $405.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Needham & Company LLC raised Stryker from a hold rating to a buy rating and set a $392.00 price objective on the stock in a report on Wednesday, May 22nd. Barclays increased their price target on Stryker from $372.00 to $376.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. Citigroup raised their target price on Stryker from $362.00 to $406.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada upped their price objective on Stryker from $360.00 to $386.00 and gave the stock an outperform rating in a research report on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $370.58.

Stryker Stock Performance

NYSE:SYK opened at $340.50 on Tuesday. Stryker has a 1 year low of $249.98 and a 1 year high of $361.41. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99. The stock’s 50 day simple moving average is $336.82 and its two-hundred day simple moving average is $333.01. The company has a market cap of $129.71 billion, a price-to-earnings ratio of 38.99, a PEG ratio of 2.67 and a beta of 0.92.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter in the previous year, the business posted $2.14 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts anticipate that Stryker will post 11.95 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, June 28th. This represents a $3.20 annualized dividend and a yield of 0.94%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYK. Vanguard Group Inc. boosted its position in Stryker by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after buying an additional 309,592 shares during the last quarter. Greenleaf Trust grew its position in shares of Stryker by 0.6% during the first quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock worth $6,655,089,000 after buying an additional 108,080 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after buying an additional 642,178 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Stryker by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after acquiring an additional 813,311 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Stryker by 4.4% during the 3rd quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after acquiring an additional 223,728 shares during the last quarter. Institutional investors and hedge funds 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.