Stryker (NYSE:SYK) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Stryker (NYSE:SYK) in a research note published on Wednesday morning, Benzinga reports.

Other equities research analysts have also recently issued research reports about the stock. Citigroup raised their price objective on shares of Stryker from $362.00 to $406.00 and gave the company a buy rating in a research report on Wednesday, April 3rd. Canaccord Genuity Group upgraded shares of Stryker from a hold rating to a buy rating and raised their price objective for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. Royal Bank of Canada raised their price objective on shares of Stryker from $360.00 to $386.00 and gave the company an outperform rating in a research report on Monday, April 15th. Roth Mkm raised their price objective on shares of Stryker from $345.00 to $348.00 and gave the company a buy rating in a research report on Wednesday, January 31st. Finally, TD Cowen raised their price objective on shares of Stryker from $365.00 to $400.00 and gave the company a buy rating in a research report on Thursday, April 11th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $357.05.

Stryker Trading Down 2.5 %

Shares of SYK stock opened at $328.14 on Wednesday. The stock has a market cap of $124.85 billion, a price-to-earnings ratio of 37.46, a P/E/G ratio of 2.71 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The firm has a fifty day moving average of $348.05 and a 200-day moving average of $316.78. Stryker has a 52-week low of $249.98 and a 52-week high of $361.41.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.44%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $2.14 EPS. On average, equities research analysts forecast that Stryker will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Wednesday, March 27th. Stryker’s payout ratio is 36.53%.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the transaction, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Allan C. Golston sold 3,273 shares of Stryker stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares in the company, valued at $4,856,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the sale, the director now owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 212,109 shares of company stock valued at $72,845,768. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Stryker

Institutional investors have recently added to or reduced their stakes in the company. Burkett Financial Services LLC acquired a new position in Stryker during the fourth quarter worth $25,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 61 shares during the period. Rogco LP bought a new stake in shares of Stryker in the fourth quarter valued at about $30,000. DSM Capital Partners LLC bought a new stake in shares of Stryker in the fourth quarter valued at about $34,000. Finally, HBC Financial Services PLLC bought a new stake in Stryker during the fourth quarter worth about $37,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Company Profile

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.