Stryker (SYK) PT Raised to $166.00 at Piper Jaffray Companies

Stryker (NYSE:SYK) had its price target boosted by Piper Jaffray Companies from $156.00 to $166.00 in a report issued on Tuesday, Marketbeat Ratings reports. They currently have an overweight rating on the medical technology company’s stock.

Other equities research analysts also recently issued reports about the stock. Cowen set a $160.00 price target on shares of Stryker and gave the company a buy rating in a research report on Friday, October 6th. Robert W. Baird upgraded shares of Stryker from a neutral rating to an outperform rating in a research report on Friday, November 24th. Cantor Fitzgerald reiterated a neutral rating and issued a $163.00 price target on shares of Stryker in a research report on Friday, January 5th. Barclays lifted their price target on shares of Stryker from $137.00 to $148.00 and gave the company an underweight rating in a research report on Friday, October 27th. Finally, Zacks Investment Research upgraded shares of Stryker from a sell rating to a hold rating in a research report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $156.60.

Stryker (SYK) traded down $1.24 during midday trading on Tuesday, hitting $159.54. 1,241,800 shares of the stock were exchanged, compared to its average volume of 1,150,000. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.63. Stryker has a 52 week low of $119.05 and a 52 week high of $164.20. The firm has a market capitalization of $59,710.00, a P/E ratio of 34.02, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.02. Stryker had a net margin of 14.67% and a return on equity of 24.11%. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the previous year, the business earned $1.39 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. research analysts predict that Stryker will post 6.47 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.18%. This is a boost from Stryker’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, December 28th. Stryker’s dividend payout ratio (DPR) is 40.09%.

In related news, insider Lonny J. Carpenter sold 5,000 shares of Stryker stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $155.34, for a total value of $776,700.00. Following the transaction, the insider now directly owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 7.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Chip Partners Inc. grew its stake in shares of Stryker by 0.3% during the second quarter. Blue Chip Partners Inc. now owns 1,781 shares of the medical technology company’s stock worth $247,000 after buying an additional 6 shares during the last quarter. WFG Advisors LP grew its stake in shares of Stryker by 1.6% during the second quarter. WFG Advisors LP now owns 2,041 shares of the medical technology company’s stock worth $283,000 after buying an additional 32 shares during the last quarter. Armor Investment Advisors LLC grew its stake in shares of Stryker by 1.0% during the second quarter. Armor Investment Advisors LLC now owns 5,000 shares of the medical technology company’s stock worth $694,000 after buying an additional 50 shares during the last quarter. Advisory Services Network LLC grew its stake in shares of Stryker by 1.8% during the second quarter. Advisory Services Network LLC now owns 3,398 shares of the medical technology company’s stock worth $472,000 after buying an additional 59 shares during the last quarter. Finally, Essex Financial Services Inc. grew its stake in shares of Stryker by 0.6% during the second quarter. Essex Financial Services Inc. now owns 11,220 shares of the medical technology company’s stock worth $1,557,000 after buying an additional 62 shares during the last quarter. 74.90% of the stock is currently owned by hedge funds and other institutional investors.

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About Stryker

Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.

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