Stryker (NYSE:SYK) PT Raised to $230.00 at Morgan Stanley

Stryker (NYSE:SYK) had its price objective increased by Morgan Stanley from $218.00 to $230.00 in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the medical technology company’s stock.

Other equities research analysts also recently issued reports about the stock. Canaccord Genuity set a C$16.50 target price on shares of Detour Gold and gave the company a buy rating in a research note on Wednesday, April 24th. Deutsche Bank raised their target price on shares of Texas Instruments from $100.00 to $110.00 and gave the company a hold rating in a research note on Wednesday, April 24th. Oppenheimer assumed coverage on shares of Kala Pharmaceuticals in a research note on Wednesday, April 24th. They issued an outperform rating and a $11.00 target price for the company. Svb Leerink reiterated an outperform rating on shares of Stryker in a research note on Wednesday, July 10th. Finally, BTIG Research raised their target price on shares of Stryker to $219.00 and gave the company a positive rating in a research note on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $202.46.

Shares of NYSE:SYK opened at $208.02 on Tuesday. Stryker has a 52-week low of $144.75 and a 52-week high of $211.13. The firm has a market cap of $77.61 billion, a P/E ratio of 28.46, a P/E/G ratio of 2.52 and a beta of 0.87. The firm has a 50-day moving average price of $200.65. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.12 and a quick ratio of 1.30.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.04. Stryker had a net margin of 25.38% and a return on equity of 26.72%. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same period last year, the business posted $1.68 EPS. Stryker’s revenue was up 8.5% on a year-over-year basis. Equities research analysts anticipate that Stryker will post 8.15 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.08 annualized dividend and a yield of 1.00%. Stryker’s dividend payout ratio (DPR) is presently 28.45%.

In other news, VP Bijoy Sagar sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $190.43, for a total transaction of $380,860.00. Following the transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at $637,940.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Louise Francesconi sold 2,679 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $187.25, for a total transaction of $501,642.75. Following the transaction, the director now directly owns 15,598 shares in the company, valued at $2,920,725.50. The disclosure for this sale can be found here. Insiders have sold 21,377 shares of company stock valued at $4,144,870 over the last 90 days. Company insiders own 7.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. D.B. Root & Company LLC increased its holdings in shares of Stryker by 3.0% during the second quarter. D.B. Root & Company LLC now owns 1,724 shares of the medical technology company’s stock worth $354,000 after purchasing an additional 50 shares during the period. Welch Group LLC increased its stake in Stryker by 1.5% in the first quarter. Welch Group LLC now owns 3,774 shares of the medical technology company’s stock valued at $745,000 after acquiring an additional 54 shares during the last quarter. Independence Bank of Kentucky increased its stake in Stryker by 4.9% in the first quarter. Independence Bank of Kentucky now owns 1,180 shares of the medical technology company’s stock valued at $233,000 after acquiring an additional 55 shares during the last quarter. Benedict Financial Advisors Inc. increased its stake in Stryker by 1.1% in the first quarter. Benedict Financial Advisors Inc. now owns 5,235 shares of the medical technology company’s stock valued at $1,034,000 after acquiring an additional 57 shares during the last quarter. Finally, Berman Capital Advisors LLC increased its stake in Stryker by 11.1% in the first quarter. Berman Capital Advisors LLC now owns 571 shares of the medical technology company’s stock valued at $112,000 after acquiring an additional 57 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

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.

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Analyst Recommendations for Stryker (NYSE:SYK)

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