JMP Securities Reiterates “Market Perform” Rating for Stryker (NYSE:SYK)

JMP Securities reiterated their market perform rating on shares of Stryker (NYSE:SYK) in a research note released on Tuesday,Benzinga reports.

Several other brokerages have also issued reports on SYK. Citigroup lifted their price target on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. BTIG Research boosted their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Barclays increased their price target on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, Robert W. Baird raised their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $405.80.

Stryker Trading Down 1.7 %

Shares of NYSE SYK opened at $355.17 on Tuesday. The firm has a market capitalization of $135.40 billion, a PE ratio of 38.07, a PEG ratio of 2.82 and a beta of 0.95. Stryker has a one year low of $294.34 and a one year high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average price of $375.25 and a two-hundred day moving average price of $357.42.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. As a group, analysts predict that Stryker will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.84 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is 36.01%.

Insider Buying and Selling at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Stryker

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYK. Bath Savings Trust Co raised its stake in shares of Stryker by 0.7% during the fourth quarter. Bath Savings Trust Co now owns 113,412 shares of the medical technology company’s stock worth $40,834,000 after buying an additional 823 shares during the last quarter. Regent Peak Wealth Advisors LLC acquired a new position in shares of Stryker in the 4th quarter valued at approximately $204,000. CWA Asset Management Group LLC increased its position in shares of Stryker by 3.5% during the fourth quarter. CWA Asset Management Group LLC now owns 3,854 shares of the medical technology company’s stock worth $1,388,000 after acquiring an additional 131 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Stryker by 15.8% in the fourth quarter. Nordea Investment Management AB now owns 971,735 shares of the medical technology company’s stock valued at $350,485,000 after purchasing an additional 132,513 shares in the last quarter. Finally, Everence Capital Management Inc. boosted its position in Stryker by 21.4% during the 4th quarter. Everence Capital Management Inc. now owns 9,570 shares of the medical technology company’s stock worth $3,446,000 after acquiring an additional 1,690 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

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.