Stryker (NYSE:SYK) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Stryker (NYSE:SYK) in a research report report published on Wednesday,Benzinga reports. Needham & Company LLC currently has a $442.00 price target on the medical technology company’s stock.

Other analysts have also issued reports about the stock. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Wells Fargo & Company boosted their price target on shares of Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Citigroup increased their price objective on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Evercore ISI boosted their target price on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $419.37.

Stryker Stock Performance

Shares of SYK stock opened at $390.90 on Wednesday. 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 firm has a market cap of $149.02 billion, a P/E ratio of 50.37, a P/E/G ratio of 2.68 and a beta of 0.95. The firm’s 50 day moving average price is $376.56 and its 200-day moving average price is $362.38. Stryker has a one year low of $314.93 and a one year high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.86% and a net margin of 13.25%. During the same quarter in the previous year, the business earned $3.46 EPS. As a group, equities research analysts predict that Stryker will post 13.53 EPS for the current year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date was Tuesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio is currently 43.30%.

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 stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Large investors have recently modified their holdings of the company. Zhang Financial LLC boosted its stake in Stryker by 55.0% during the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after purchasing an additional 40,784 shares during the period. Dale Q Rice Investment Management Ltd acquired a new stake in shares of Stryker during the fourth quarter worth about $587,000. Berkshire Bank grew its holdings in shares of Stryker by 13.8% during the fourth quarter. Berkshire Bank now owns 8,489 shares of the medical technology company’s stock worth $3,056,000 after buying an additional 1,030 shares during the last quarter. PFW Advisors LLC acquired a new position in Stryker in the 4th quarter valued at about $1,350,000. Finally, Traynor Capital Management Inc. purchased a new stake in Stryker during the 4th quarter valued at approximately $324,000. 77.09% of the stock is owned by institutional investors and hedge funds.

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.