Stryker (NYSE:SYK) Now Covered by Analysts at Raymond James

Raymond James initiated coverage on shares of Stryker (NYSE:SYK) in a research note published on Tuesday morning, The Fly reports. The firm issued a market perform rating on the medical technology company’s stock.

Several other brokerages have also issued reports on SYK. Truist Securities increased their price target on shares of Stryker from $250.00 to $275.00 and gave the stock a hold rating in a research note on Wednesday, July 28th. Canaccord Genuity increased their price target on shares of Stryker from $285.00 to $290.00 and gave the stock a buy rating in a research note on Wednesday, July 28th. Northland Securities upgraded shares of Stryker from a market perform rating to an outperform rating and increased their price target for the stock from $248.00 to $310.00 in a research note on Wednesday, July 28th. Truist increased their price target on shares of Stryker from $250.00 to $275.00 and gave the stock a hold rating in a research note on Wednesday, July 28th. Finally, Morgan Stanley increased their price target on shares of Stryker from $280.00 to $300.00 and gave the stock an overweight rating in a research note on Wednesday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Buy and a consensus target price of $287.18.

Shares of NYSE SYK opened at $275.26 on Tuesday. The company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 0.92. Stryker has a 12 month low of $196.09 and a 12 month high of $281.16. The firm has a market capitalization of $103.80 billion, a PE ratio of 50.41, a price-to-earnings-growth ratio of 3.08 and a beta of 0.98. The firm has a fifty day simple moving average of $266.69 and a two-hundred day simple moving average of $256.91.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Monday, July 26th. The medical technology company reported $2.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.12 by $0.13. The business had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.14 billion. Stryker had a net margin of 12.82% and a return on equity of 26.08%. The company’s revenue for the quarter was up 55.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 EPS. On average, sell-side analysts predict that Stryker will post 9.35 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Thursday, September 30th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Wednesday, September 29th. Stryker’s payout ratio is 33.92%.

In other Stryker news, Director Ronda E. Stryker sold 150,000 shares of Stryker stock in a transaction that occurred on Friday, August 6th. The shares were sold at an average price of $262.26, for a total transaction of $39,339,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Robert S. Fletcher sold 1,120 shares of Stryker stock in a transaction that occurred on Thursday, August 5th. The shares were sold at an average price of $261.10, for a total transaction of $292,432.00. Following the sale, the vice president now owns 4,533 shares in the company, valued at approximately $1,183,566.30. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in SYK. West Branch Capital LLC bought a new stake in shares of Stryker during the second quarter valued at approximately $32,000. RE Advisers Corp bought a new stake in Stryker in the second quarter worth $34,000. Magellan Asset Management Ltd bought a new stake in Stryker in the first quarter worth $35,000. Penserra Capital Management LLC bought a new stake in Stryker in the second quarter worth $36,000. Finally, Albion Financial Group UT bought a new stake in Stryker in the second quarter worth $37,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.

Stryker Company Profile

Stryker Corp. engages in the provision of medical technology products and services. It operates through the following segments: Orthopaedics, MedSurg, and Neurotechnology & Spine. The Orthopaedics segment provides reconstructive and trauma implant systems. The MedSurg segment deals with surgical equipment and navigation systems, endoscopy, patient handling and reprocessed medical devices.

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