Stryker’s (SYK) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Stryker (NYSE:SYK) in a report issued on Friday morning.

“We attended at its Orthopaedics facility in on 11/8/18. We highlight some of our take-aways from the event below.”,” the firm’s analyst wrote.

A number of other equities analysts have also issued reports on SYK. BMO Capital Markets reissued a hold rating and set a $174.00 price target on shares of Stryker in a report on Thursday, July 12th. Zacks Investment Research lowered Stryker from a buy rating to a sell rating in a report on Wednesday, July 18th. Royal Bank of Canada reissued a buy rating and set a $184.00 price target on shares of Stryker in a report on Wednesday, July 25th. Cantor Fitzgerald lifted their price objective on Stryker from $170.00 to $175.00 and gave the company a neutral rating in a report on Wednesday, July 25th. Finally, Citigroup lifted their price objective on Stryker from $171.00 to $173.00 and gave the company a neutral rating in a report on Wednesday, July 25th. Seven analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $181.81.

Shares of NYSE SYK traded down $0.04 during midday trading on Friday, reaching $171.25. 1,423,441 shares of the company were exchanged, compared to its average volume of 1,492,163. The company has a quick ratio of 1.21, a current ratio of 1.91 and a debt-to-equity ratio of 0.60. Stryker has a 1 year low of $146.80 and a 1 year high of $179.84. The firm has a market cap of $63.52 billion, a P/E ratio of 26.39, a P/E/G ratio of 2.33 and a beta of 0.64.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, October 25th. The medical technology company reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.01. Stryker had a return on equity of 28.00% and a net margin of 9.31%. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.26 billion. As a group, analysts anticipate that Stryker will post 7.28 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Thursday, September 27th. Stryker’s dividend payout ratio is presently 28.97%.

In other news, VP M Kathryn Fink sold 415 shares of Stryker stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $166.56, for a total transaction of $69,122.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Katherine Ann Owen sold 37,866 shares of Stryker stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $166.84, for a total transaction of $6,317,563.44. Following the sale, the vice president now owns 11,367 shares of the company’s stock, valued at $1,896,470.28. The disclosure for this sale can be found here. Insiders sold a total of 39,031 shares of company stock worth $6,520,313 in the last ninety days. 7.40% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Commonwealth Bank of Australia lifted its position in shares of Stryker by 1.8% during the 3rd quarter. Commonwealth Bank of Australia now owns 17,102 shares of the medical technology company’s stock valued at $3,032,000 after acquiring an additional 300 shares during the period. CapWealth Advisors LLC raised its position in shares of Stryker by 0.8% during the 2nd quarter. CapWealth Advisors LLC now owns 40,753 shares of the medical technology company’s stock worth $6,882,000 after purchasing an additional 310 shares during the last quarter. Benedict Financial Advisors Inc. raised its position in shares of Stryker by 7.2% during the 2nd quarter. Benedict Financial Advisors Inc. now owns 4,681 shares of the medical technology company’s stock worth $790,000 after purchasing an additional 313 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Stryker by 1.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 21,307 shares of the medical technology company’s stock worth $3,598,000 after purchasing an additional 316 shares during the last quarter. Finally, Associated Banc Corp raised its position in shares of Stryker by 12.2% during the 2nd quarter. Associated Banc Corp now owns 2,994 shares of the medical technology company’s stock worth $506,000 after purchasing an additional 325 shares during the last quarter. Institutional investors own 74.71% of the company’s stock.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Analyst Recommendations for Stryker (NYSE:SYK)

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