Stryker (NYSE:SYK) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Stryker (NYSE:SYK) from a hold rating to a buy rating in a report published on Tuesday, August 7th. Zacks Investment Research currently has $186.00 price objective on the medical technology company’s stock.

According to Zacks, “Stryker wrapped up the second quarter on a solid note, with earnings and revenues beating estimates. The company continues to gain from its flagship Mako Total Knee platform, which drove its core Orthopaedic segment. In fact, Mako saw increasing robot installations in the quarter. Surging domestic sales is a positive. Moreover, solid performance in emerging markets and Europe paints a bright picture. Considerable expansion in operating margin is encouraging as well. Higher R&D expenses indicate increasing focus on innovation. However, Stryker’s Spine business continued to see market softness and mid-single digit pricing declines. Further, supply issues in the Puerto Rico facility continue to plague the company. The slowdown of MedSurg’s sustainability revenue growth is another negative. Stiff competition is likely to mar Stryker’s prospects. Stryker underperformed the industry in a year.”

Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity raised their target price on shares of Stryker from $176.00 to $185.00 and gave the stock a buy rating in a report on Friday, April 27th. Stifel Nicolaus raised their target price on shares of Stryker from $183.00 to $187.00 and gave the stock a buy rating in a report on Friday, April 27th. Royal Bank of Canada reissued a buy rating and issued a $184.00 target price on shares of Stryker in a report on Wednesday, July 25th. ValuEngine raised shares of Stryker from a hold rating to a buy rating in a report on Tuesday, June 26th. Finally, Cantor Fitzgerald reissued a hold rating and issued a $170.00 target price on shares of Stryker in a report on Wednesday, June 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company. Stryker has a consensus rating of Buy and a consensus price target of $177.25.

Shares of SYK stock traded up $0.41 during trading hours on Tuesday, hitting $169.43. 1,408,300 shares of the company were exchanged, compared to its average volume of 1,304,193. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.15 and a current ratio of 1.83. Stryker has a one year low of $138.56 and a one year high of $179.84. The stock has a market capitalization of $63.54 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 2.38 and a beta of 0.62.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 24th. The medical technology company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.73 by $0.03. Stryker had a net margin of 8.28% and a return on equity of 26.93%. The business had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter last year, the company posted $1.53 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. research analysts forecast that Stryker will post 7.25 EPS for the current year.

Several large investors have recently made changes to their positions in the business. Truvestments Capital LLC acquired a new stake in shares of Stryker in the second quarter valued at approximately $338,000. HM Payson & Co. increased its stake in shares of Stryker by 6.2% in the second quarter. HM Payson & Co. now owns 7,653 shares of the medical technology company’s stock valued at $1,292,000 after purchasing an additional 446 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Stryker by 1.5% in the second quarter. Advisors Asset Management Inc. now owns 33,452 shares of the medical technology company’s stock valued at $5,649,000 after purchasing an additional 494 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Stryker by 0.7% in the second quarter. Public Employees Retirement System of Ohio now owns 236,347 shares of the medical technology company’s stock valued at $39,910,000 after purchasing an additional 1,722 shares during the period. Finally, Cleararc Capital Inc. increased its stake in shares of Stryker by 3.7% in the second quarter. Cleararc Capital Inc. now owns 22,491 shares of the medical technology company’s stock valued at $3,798,000 after purchasing an additional 802 shares during the period. Institutional investors own 75.12% of the company’s stock.

Stryker Company Profile

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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