Stryker’s (SYK) “Market Perform” Rating Reiterated at JMP Securities

JMP Securities reissued their market perform rating on shares of Stryker (NYSE:SYK) in a research note issued to investors on Tuesday morning,Benzinga reports.

Several other research firms have also recently commented on SYK. Robert W. Baird raised their price target on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Citigroup raised their target price on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research note on Tuesday. Finally, Piper Sandler reissued an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Trading Up 2.5 %

Shares of Stryker stock opened at $364.19 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The company has a market capitalization of $138.84 billion, a P/E ratio of 39.03, a PEG ratio of 2.82 and a beta of 0.95. Stryker has a 1 year low of $298.52 and a 1 year high of $398.20. The company’s fifty day moving average is $375.42 and its two-hundred day moving average is $357.51.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.46 EPS. Analysts forecast that Stryker will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.92%. Stryker’s payout ratio is 36.01%.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SYK. Avestar Capital LLC lifted its stake in shares of Stryker by 1.1% in the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock valued at $1,065,000 after purchasing an additional 31 shares in the last quarter. Patrick M Sweeney & Associates Inc. lifted its position in Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after buying an additional 32 shares in the last quarter. Grimes & Company Inc. grew its stake in Stryker by 0.4% during the third quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock worth $2,977,000 after buying an additional 33 shares during the period. Sachetta LLC increased its position in shares of Stryker by 16.3% in the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after acquiring an additional 34 shares in the last quarter. Finally, Moran Wealth Management LLC raised its stake in shares of Stryker by 0.4% in the 3rd quarter. Moran Wealth Management LLC now owns 9,047 shares of the medical technology company’s stock valued at $3,268,000 after acquiring an additional 34 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.