Stryker (SYK) Raised to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Stryker (NYSE:SYK) from a neutral rating to an overweight rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports.

SYK has been the subject of a number of other research reports. Robert W. Baird upgraded Stryker from a neutral rating to an outperform rating and lifted their target price for the stock from $161.00 to $173.00 in a report on Thursday, November 16th. Needham & Company LLC reiterated a hold rating on shares of Stryker in a report on Friday, November 3rd. Piper Jaffray Companies reiterated a buy rating and issued a $156.00 target price on shares of Stryker in a report on Friday, October 27th. ValuEngine raised Stryker from a hold rating to a buy rating in a research note on Tuesday, November 14th. Finally, Zacks Investment Research lowered Stryker from a hold rating to a sell rating in a research note on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $154.60.

Shares of Stryker (SYK) traded down $0.05 during trading on Tuesday, hitting $158.74. The stock had a trading volume of 862,400 shares, compared to its average volume of 1,107,267. The stock has a market cap of $59,425.19, a PE ratio of 33.92, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.63. Stryker has a 12-month low of $116.50 and a 12-month high of $160.62.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.02. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Stryker had a return on equity of 24.11% and a net margin of 14.67%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.39 EPS. equities analysts expect that Stryker will post 6.47 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, December 28th. This is a positive change from Stryker’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a yield of 1.18%. Stryker’s payout ratio is 40.17%.

In other Stryker news, insider Lonny J. Carpenter sold 5,000 shares of Stryker stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total transaction of $776,700.00. Following the completion of the sale, the insider now directly owns 83,207 shares of the company’s stock, valued at approximately $12,925,375.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 7.40% of the company’s stock.

Several large investors have recently made changes to their positions in SYK. Smithfield Trust Co. increased its holdings in shares of Stryker by 3.1% in the 2nd quarter. Smithfield Trust Co. now owns 3,263 shares of the medical technology company’s stock valued at $453,000 after acquiring an additional 97 shares during the period. Eagle Ridge Investment Management increased its holdings in shares of Stryker by 8.8% in the 2nd quarter. Eagle Ridge Investment Management now owns 46,989 shares of the medical technology company’s stock valued at $6,222,000 after acquiring an additional 3,815 shares during the period. Callahan Advisors LLC increased its holdings in shares of Stryker by 0.8% in the 2nd quarter. Callahan Advisors LLC now owns 63,497 shares of the medical technology company’s stock valued at $8,812,000 after acquiring an additional 525 shares during the period. JLB & Associates Inc. purchased a new position in shares of Stryker in the 2nd quarter valued at $5,090,000. Finally, Retirement Systems of Alabama increased its holdings in shares of Stryker by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 229,214 shares of the medical technology company’s stock valued at $31,810,000 after acquiring an additional 813 shares during the period. Institutional investors and hedge funds own 74.90% of the company’s stock.

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About Stryker

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.

Analyst Recommendations for Stryker (NYSE:SYK)

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