Today, SunTrust Banks Inc. Begins Coverage on Stryker Corp. (SYK)

Today, SunTrust Banks Inc. Begins Coverage on Stryker Corp. (SYK)

SunTrust Banks Inc. initiated coverage on shares of Stryker Corp. (NYSE:SYK) in a report published on Thursday. The brokerage issued a buy rating and a $140.00 price objective on the medical technology company’s stock.

Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Stryker Corp. from a hold rating to a buy rating and set a $130.00 price objective for the company in a report on Tuesday, June 21st. Brean Capital reissued a buy rating and issued a $125.00 price objective (up previously from $121.00) on shares of Stryker Corp. in a report on Monday, July 25th. Canaccord Genuity reissued a buy rating and issued a $130.00 price objective on shares of Stryker Corp. in a report on Sunday, July 24th. Needham & Company LLC reissued a hold rating on shares of Stryker Corp. in a report on Sunday, July 24th. Finally, JPMorgan Chase & Co. reissued a hold rating and issued a $119.00 price objective on shares of Stryker Corp. in a report on Friday, July 22nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $117.91.

Shares of Stryker Corp. (NYSE:SYK) opened at 113.57 on Thursday. Stryker Corp. has a one year low of $86.68 and a one year high of $123.55. The company has a 50 day moving average of $115.20 and a 200-day moving average of $114.25. The firm has a market cap of $42.51 billion, a price-to-earnings ratio of 26.77 and a beta of 0.72.

Stryker Corp. (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 21st. The medical technology company reported $1.39 EPS for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.02. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.79 billion. On average, analysts expect that Stryker Corp. will post $5.76 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.52 dividend on an annualized basis and a yield of 1.34%. Stryker Corp.’s dividend payout ratio (DPR) is presently 35.85%.

In related news, Director Ronda E. Stryker sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $113.95, for a total transaction of $1,367,400.00. Following the completion of the transaction, the director now owns 193,142 shares of the company’s stock, valued at $22,008,530.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $117.56, for a total transaction of $2,116,080.00. Following the transaction, the director now directly owns 193,142 shares of the company’s stock, valued at approximately $22,705,773.52. The disclosure for this sale can be found here. Corporate insiders own 7.80% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Blue Chip Partners Inc. boosted its position in shares of Stryker Corp. by 0.3% in the second quarter. Blue Chip Partners Inc. now owns 1,757 shares of the medical technology company’s stock valued at $211,000 after buying an additional 6 shares in the last quarter. Washington Trust Bank boosted its position in shares of Stryker Corp. by 0.5% in the second quarter. Washington Trust Bank now owns 3,040 shares of the medical technology company’s stock valued at $364,000 after buying an additional 15 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in shares of Stryker Corp. by 0.3% in the second quarter. Wetherby Asset Management Inc. now owns 6,242 shares of the medical technology company’s stock valued at $748,000 after buying an additional 18 shares in the last quarter. Douglas Lane & Associates LLC boosted its position in shares of Stryker Corp. by 0.7% in the second quarter. Douglas Lane & Associates LLC now owns 2,945 shares of the medical technology company’s stock valued at $353,000 after buying an additional 20 shares in the last quarter. Finally, Private Bank & Trust Co. boosted its position in shares of Stryker Corp. by 0.5% in the third quarter. Private Bank & Trust Co. now owns 4,222 shares of the medical technology company’s stock valued at $492,000 after buying an additional 23 shares in the last quarter. 75.50% of the stock is owned by institutional investors.

Stryker Corp. Company Profile

Related posts

Leave a Comment