BMO Capital Markets Reaffirms Hold Rating for Stryker Corporation (SYK)

Stryker Corporation (NYSE:SYK)‘s stock had its “hold” rating reissued by investment analysts at BMO Capital Markets in a research report issued on Tuesday, July 11th. They currently have a $140.00 target price on the medical technology company’s stock. BMO Capital Markets’ price target points to a potential downside of 4.83% from the stock’s current price.

A number of other brokerages also recently issued reports on SYK. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Stryker Corporation in a research report on Monday, June 19th. Citigroup Inc. upped their price objective on Stryker Corporation from $114.00 to $125.00 and gave the company a “sell” rating in a research report on Friday, June 9th. Cantor Fitzgerald assumed coverage on Stryker Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $153.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $160.00 price target (up from $155.00) on shares of Stryker Corporation in a report on Monday, July 10th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $140.00 price target (up from $135.00) on shares of Stryker Corporation in a report on Wednesday, April 26th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. Stryker Corporation has a consensus rating of “Hold” and an average target price of $143.87.

Shares of Stryker Corporation (SYK) opened at 147.10 on Tuesday. The stock’s 50 day moving average price is $142.56 and its 200-day moving average price is $134.25. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $148.15. The firm has a market cap of $55.02 billion, a P/E ratio of 32.83 and a beta of 0.79.

Stryker Corporation (NYSE:SYK) last posted its earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.39 earnings per share. On average, analysts predict that Stryker Corporation will post $6.43 earnings per share for the current fiscal year.

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In other news, insider David Floyd sold 19,305 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total transaction of $2,790,730.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 7.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of SYK. Private Asset Management Inc. boosted its position in shares of Stryker Corporation by 4.8% in the first quarter. Private Asset Management Inc. now owns 8,800 shares of the medical technology company’s stock valued at $1,159,000 after buying an additional 400 shares in the last quarter. First Financial Bank N.A. Trust Division boosted its position in shares of Stryker Corporation by 6.9% in the first quarter. First Financial Bank N.A. Trust Division now owns 49,328 shares of the medical technology company’s stock valued at $6,494,000 after buying an additional 3,199 shares in the last quarter. Pensionfund DSM Netherlands bought a new position in shares of Stryker Corporation during the first quarter valued at $4,002,000. Toth Financial Advisory Corp raised its stake in Stryker Corporation by 0.6% in the first quarter. Toth Financial Advisory Corp now owns 77,031 shares of the medical technology company’s stock valued at $10,141,000 after buying an additional 471 shares during the last quarter. Finally, Pensionfund Sabic purchased a new stake in Stryker Corporation during the first quarter valued at approximately $2,014,000. Institutional investors and hedge funds own 74.07% of the company’s stock.

Stryker Corporation Company Profile

Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.

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