Stryker Corp. (NYSE:SYK) was upgraded by equities researchers at TheStreet from a “hold” rating to a “buy” rating in a research report issued on Friday, AnalystRatingsNetwork.com reports.
The analysts wrote, “Stryker Corporation (SYK) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income.”
In other Stryker Corp. news, Director Ronda Stryker sold 21,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $74.33, for a total transaction of $1,560,930.00. Following the completion of the transaction, the director now directly owns 165,225 shares of the company’s stock, valued at approximately $12,281,174. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of other analysts have also recently weighed in on SYK. Analysts at Sanford C. Bernstein upgraded shares of Stryker Corp. from a “market perform” rating to an “outperform” rating in a research note to investors on Monday, November 25th. They now have a $84.00 price target on the stock, up previously from $75.00. Separately, analysts at Piper Jaffray raised their price target on shares of Stryker Corp. from $74.00 to $82.00 in a research note to investors on Tuesday, October 22nd. They now have a “neutral” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Stryker Corp. in a research note to investors on Monday, October 21st. They now have a $77.00 price target on the stock. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $72.40.
Shares of Stryker Corp. (NYSE:SYK) traded up 1.61% during mid-day trading on Friday, hitting $74.34. 258,587 shares of the company’s stock traded hands. Stryker Corp. has a 52 week low of $54.07 and a 52 week high of $75.50. The stock has a 50-day moving average of $73.90 and a 200-day moving average of $69.75. The company has a market cap of $28.132 billion and a P/E ratio of 31.40.
Stryker Corp. (NYSE:SYK) last released its earnings data on Thursday, October 17th. The company reported $0.98 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.99 by $0.01. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the company posted $0.97 earnings per share. Stryker Corp.’s revenue was up 4.8% compared to the same quarter last year. Analysts expect that Stryker Corp. will post $4.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.31 per share. This represents a $1.22 annualized dividend and a dividend yield of 1.67%.
Stryker Corporation (NYSE:SYK) is a medical technology company.
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