Stryker (SYK) Coverage Initiated at Evercore ISI

Analysts at Evercore ISI began coverage on shares of Stryker (NYSE:SYK) in a note issued to investors on Monday, The Fly reports. The brokerage set a $165.00 price target on the medical technology company’s stock. Evercore ISI’s target price points to a potential upside of 5.60% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. JPMorgan Chase upgraded shares of Stryker from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 2nd. Zacks Investment Research cut shares of Stryker from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. Morgan Stanley increased their target price on shares of Stryker from $179.00 to $186.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. BMO Capital Markets upgraded shares of Stryker to a “market perform” rating and set a $163.00 target price on the stock in a report on Tuesday, December 12th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $163.00 target price on shares of Stryker in a report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $164.77.

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Shares of NYSE SYK traded down $4.67 during mid-day trading on Monday, reaching $156.25. The company had a trading volume of 1,237,362 shares, compared to its average volume of 1,335,204. The company has a current ratio of 2.29, a quick ratio of 1.59 and a debt-to-equity ratio of 0.66. Stryker has a 52 week low of $129.82 and a 52 week high of $170.00. The stock has a market cap of $60,287.39, a PE ratio of 24.08, a PEG ratio of 2.31 and a beta of 0.70.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.01. Stryker had a net margin of 8.20% and a return on equity of 24.56%. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same period in the prior year, the business earned $1.78 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. sell-side analysts forecast that Stryker will post 7.12 earnings per share for the current year.

In related news, Director Howard E. Cox, Jr. sold 7,400 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $164.09, for a total value of $1,214,266.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Kevin Lobo sold 39,808 shares of the stock in a transaction that occurred on Thursday, March 22nd. The shares were sold at an average price of $162.90, for a total transaction of $6,484,723.20. The disclosure for this sale can be found here. Insiders sold a total of 142,489 shares of company stock valued at $23,488,485 over the last ninety days. 7.30% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in SYK. Truewealth LLC purchased a new position in shares of Stryker in the 4th quarter valued at approximately $110,000. Sawyer & Company Inc purchased a new position in shares of Stryker in the 4th quarter valued at approximately $125,000. Sit Investment Associates Inc. raised its position in shares of Stryker by 114.3% in the 4th quarter. Sit Investment Associates Inc. now owns 825 shares of the medical technology company’s stock valued at $128,000 after purchasing an additional 440 shares during the last quarter. Virtue Capital Management LLC purchased a new position in Stryker during the 4th quarter worth approximately $133,000. Finally, San Francisco Sentry Investment Group CA raised its position in Stryker by 47.8% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,005 shares of the medical technology company’s stock worth $143,000 after buying an additional 325 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

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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.

The Fly

Analyst Recommendations for Stryker (NYSE:SYK)

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