Zacks Investment Research upgraded shares of Stryker (NYSE:SYK) from a hold rating to a buy rating in a research note released on Tuesday, Zacks.com reports. They currently have $206.00 price target on the medical technology company’s stock.
According to Zacks, “Stryker continues to gain from its core MedSurg unit which put up a strong show in the reported quarter. Additionally, strength in flagship Mako platform continues to favor the company. Moreover, its K2M acquisition drove the core Neurotechnology & Spine unit in the quarter under review. Solid international growth also buoys optimism. Expansion in operating margin is a positive while strong outlook for 2019 is indicative of bright prospects. Stryker has outperformed the industry in a year’s time. Stryker exited the first quarter of 2019 on a solid note, with earnings surpassing the consensus mark and revenues increasing on a year-over-year basis. However, contraction in gross margin raises concern. Pricing pressure also continues to plague Stryker. Stiff competition in the MedTech space remains a headwind.”
Several other research analysts also recently weighed in on the company. BTIG Research boosted their price target on Stryker to $211.00 and gave the company a buy rating in a report on Monday, March 18th. Piper Jaffray Companies reissued an overweight rating and set a $205.00 price objective on shares of Stryker in a research note on Friday, March 1st. Barclays boosted their price objective on shares of Stryker from $203.00 to $211.00 and gave the company an overweight rating in a research note on Monday, April 15th. JPMorgan Chase & Co. boosted their price objective on shares of Stryker from $200.00 to $215.00 and gave the company an overweight rating in a research note on Tuesday, March 19th. Finally, ValuEngine cut shares of Stryker from a buy rating to a hold rating in a research note on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $196.75.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.04. The company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.51 billion. Stryker had a return on equity of 26.72% and a net margin of 25.38%. Stryker’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.68 EPS. On average, analysts forecast that Stryker will post 8.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, June 27th. This represents a $2.08 annualized dividend and a dividend yield of 1.06%. Stryker’s dividend payout ratio is presently 28.45%.
In related news, VP Bijoy Sagar sold 2,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $190.43, for a total transaction of $380,860.00. Following the completion of the sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $637,940.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Yin C. Becker sold 15,240 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $198.03, for a total transaction of $3,017,977.20. Following the sale, the vice president now directly owns 16,577 shares of the company’s stock, valued at $3,282,743.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,303 shares of company stock valued at $15,947,489. 7.20% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Campbell Capital Management Inc. purchased a new stake in Stryker during the 4th quarter worth $204,000. British Airways Pensions Investment Management Ltd boosted its position in Stryker by 16.0% during the 4th quarter. British Airways Pensions Investment Management Ltd now owns 122,484 shares of the medical technology company’s stock worth $19,214,000 after purchasing an additional 16,925 shares during the period. Bbva Compass Bancshares Inc. lifted its holdings in Stryker by 1.1% in the 1st quarter. Bbva Compass Bancshares Inc. now owns 11,663 shares of the medical technology company’s stock worth $2,304,000 after buying an additional 123 shares in the last quarter. MainStreet Investment Advisors LLC lifted its holdings in Stryker by 3.9% in the 1st quarter. MainStreet Investment Advisors LLC now owns 15,532 shares of the medical technology company’s stock worth $3,067,000 after buying an additional 589 shares in the last quarter. Finally, Addenda Capital Inc. lifted its holdings in Stryker by 14.9% in the 1st quarter. Addenda Capital Inc. now owns 23,593 shares of the medical technology company’s stock worth $4,671,000 after buying an additional 3,060 shares in the last quarter. 73.61% of the stock is owned by hedge funds and other institutional investors.
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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