Needham & Company LLC Reaffirms Hold Rating for Stryker (NYSE:SYK)

Needham & Company LLC reiterated their hold rating on shares of Stryker (NYSE:SYK) in a research report released on Wednesday, Benzinga reports.

SYK has been the subject of a number of other reports. BTIG Research boosted their price objective on Stryker from $366.00 to $369.00 and gave the stock a buy rating in a research report on Wednesday. StockNews.com raised shares of Stryker from a hold rating to a buy rating in a research report on Tuesday, January 23rd. TD Cowen raised their price target on Stryker from $365.00 to $400.00 and gave the company a buy rating in a research note on Thursday, April 11th. Roth Mkm increased their price objective on Stryker from $345.00 to $348.00 and gave the company a buy rating in a report on Wednesday, January 31st. Finally, Canaccord Genuity Group upgraded Stryker from a hold rating to a buy rating and set a $360.00 target price for the company in a research note on Wednesday, January 31st. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $365.94.

Stryker Stock Up 0.6 %

Shares of SYK opened at $328.45 on Wednesday. The stock has a fifty day simple moving average of $347.52 and a two-hundred day simple moving average of $316.85. The company has a quick ratio of 0.97, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $124.97 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 2.63 and a beta of 0.91. Stryker has a 52-week low of $249.98 and a 52-week high of $361.41.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the prior year, the business posted $2.14 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts forecast that Stryker will post 11.93 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.97%. The ex-dividend date was Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is 36.53%.

Insider Activity at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction 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 transaction, the director now owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Aspen Investment Management Inc grew its stake in Stryker by 0.7% in the first quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock worth $1,563,000 after purchasing an additional 31 shares in the last quarter. Harbor Investment Advisory LLC grew its position in shares of Stryker by 0.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after acquiring an additional 31 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Stryker by 2.4% in the 1st quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after acquiring an additional 33 shares during the last quarter. Bremer Bank National Association raised its position in shares of Stryker by 4.0% during the 4th quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock valued at $266,000 after acquiring an additional 34 shares in the last quarter. Finally, Simon Quick Advisors LLC lifted its stake in Stryker by 3.0% during the fourth quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock worth $347,000 after purchasing an additional 34 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.