Stryker (NYSE:SYK) Receives Hold Rating from Oppenheimer

Oppenheimer restated their hold rating on shares of Stryker (NYSE:SYK) in a research report report published on Friday, AnalystRatings.com reports. The brokerage currently has a $215.00 target price on the medical technology company’s stock.

Several other research analysts have also recently commented on the stock. Raymond James lowered their price target on shares of Stryker from $240.00 to $205.00 and set an outperform rating for the company in a report on Monday, April 13th. Argus lowered their price target on shares of Stryker from $240.00 to $230.00 and set a buy rating for the company in a report on Monday, May 11th. Barclays cut shares of Stryker from an equal weight rating to an underweight rating and set a $155.00 target price for the company. in a report on Monday, April 13th. Citigroup upped their target price on shares of Stryker from $227.00 to $232.00 and gave the company a buy rating in a report on Friday. Finally, SVB Leerink restated an outperform rating on shares of Stryker in a report on Wednesday, July 15th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Stryker currently has a consensus rating of Buy and a consensus target price of $216.25.

NYSE SYK traded down $6.90 on Friday, hitting $193.30. 2,221,195 shares of the stock were exchanged, compared to its average volume of 1,253,880. The company has a quick ratio of 1.77, a current ratio of 2.58 and a debt-to-equity ratio of 0.72. Stryker has a fifty-two week low of $124.54 and a fifty-two week high of $226.30. The company has a market cap of $75.04 billion, a PE ratio of 45.91, a PEG ratio of 3.48 and a beta of 0.84. The company has a 50-day moving average price of $186.61 and a 200-day moving average price of $189.31.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, July 30th. The medical technology company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.63 by $0.01. Stryker had a net margin of 11.38% and a return on equity of 20.53%. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.63 billion. As a group, equities research analysts predict that Stryker will post 6.25 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.575 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $2.30 dividend on an annualized basis and a yield of 1.19%. Stryker’s payout ratio is currently 27.85%.

In other news, CFO Glenn S. Boehnlein sold 10,351 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $185.24, for a total value of $1,917,419.24. Following the completion of the transaction, the chief financial officer now owns 16,321 shares in the company, valued at approximately $3,023,302.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Srikant M. Datar sold 200 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $194.32, for a total transaction of $38,864.00. Following the completion of the transaction, the director now owns 17,686 shares of the company’s stock, valued at approximately $3,436,743.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,670 shares of company stock valued at $5,775,251. 6.80% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the business. Evolution Wealth Advisors LLC boosted its position in shares of Stryker by 64.4% in the second quarter. Evolution Wealth Advisors LLC now owns 143 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 56 shares during the last quarter. TFG Advisers LLC boosted its position in shares of Stryker by 0.4% in the first quarter. TFG Advisers LLC now owns 13,141 shares of the medical technology company’s stock worth $2,187,000 after acquiring an additional 57 shares during the last quarter. AIA Investment Management Private Ltd raised its holdings in Stryker by 10.1% in the first quarter. AIA Investment Management Private Ltd now owns 624 shares of the medical technology company’s stock valued at $104,000 after buying an additional 57 shares during the period. Larson Financial Group LLC raised its holdings in Stryker by 6.6% in the second quarter. Larson Financial Group LLC now owns 922 shares of the medical technology company’s stock valued at $166,000 after buying an additional 57 shares during the period. Finally, Mattern Wealth Management LLC raised its holdings in Stryker by 1.1% in the first quarter. Mattern Wealth Management LLC now owns 5,365 shares of the medical technology company’s stock valued at $893,000 after buying an additional 58 shares during the period. 71.24% of the stock is currently owned by institutional investors.

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.

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Analyst Recommendations for Stryker (NYSE:SYK)

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