JMP Securities Reiterates Market Perform Rating for Stryker (NYSE:SYK)

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 brokerages have also recently weighed in on SYK. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. BTIG Research upped their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. The Goldman Sachs Group boosted their price target on shares of Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Evercore ISI raised their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $420.68.

Stryker Stock Down 0.5 %

NYSE SYK opened at $386.47 on Tuesday. Stryker has a one year low of $314.93 and a one year high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The business has a fifty day moving average price of $377.92 and a 200 day moving average price of $368.21. The company has a market cap of $147.47 billion, a P/E ratio of 49.80, a P/E/G ratio of 2.90 and a beta of 0.96.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the prior year, the company earned $3.46 EPS. Research analysts anticipate that Stryker will post 13.49 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is 43.30%.

Insider Buying and Selling

In related news, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the transaction, the director now directly owns 14,895 shares of the company’s stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Stryker

A number of institutional investors and hedge funds have recently made changes to their positions in SYK. Mackenzie Financial Corp grew its holdings in Stryker by 18.3% during the 4th quarter. Mackenzie Financial Corp now owns 1,416,994 shares of the medical technology company’s stock worth $510,189,000 after acquiring an additional 219,451 shares in the last quarter. Forum Financial Management LP lifted its position in shares of Stryker by 31.7% during the 4th quarter. Forum Financial Management LP now owns 2,455 shares of the medical technology company’s stock worth $884,000 after purchasing an additional 591 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of Stryker by 3.9% during the fourth quarter. Toronto Dominion Bank now owns 180,788 shares of the medical technology company’s stock worth $65,092,000 after purchasing an additional 6,823 shares in the last quarter. Warm Springs Advisors Inc. purchased a new position in Stryker in the fourth quarter valued at $1,107,000. Finally, North Star Asset Management Inc. raised its stake in Stryker by 0.4% in the fourth quarter. North Star Asset Management Inc. now owns 99,380 shares of the medical technology company’s stock valued at $35,782,000 after buying an additional 364 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

About Stryker

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.