Stryker (NYSE:SYK)‘s stock had its “hold” rating reiterated by stock analysts at Needham & Company LLC in a research report issued on Thursday.
The analysts wrote, “SYK is acquiring ENTL for $24.00 per share (a 50% premium) or $662M of cash which is 7.1x consensus 2017E sales. ENTL is the leader in minimally invasive surgical (MIS) treatment of ear, nose, and throat (ENT) diseases and manufactures products that specifically cover nasal procedures. We think that the deal makes strategic and financial sense for SYK since it broadens SYK’s ENT offering and we expect ENTL’s sustained double-digit growth to be accretive to SYK’s overall growth in coming years.””
Several other equities analysts have also recently issued reports on SYK. Royal Bank Of Canada reiterated a “buy” rating and issued a $155.00 price objective on shares of Stryker in a research note on Monday, October 2nd. BidaskClub upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. SunTrust Banks reiterated a “buy” rating and issued a $161.00 price objective on shares of Stryker in a research note on Monday, October 2nd. ValuEngine cut Stryker from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Oppenheimer set a $156.00 price objective on Stryker and gave the company a “hold” rating in a research note on Monday, October 30th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. Stryker presently has an average rating of “Hold” and an average price target of $152.10.
Shares of Stryker (NYSE:SYK) traded down $0.27 during trading on Thursday, reaching $151.76. The company had a trading volume of 1,090,500 shares, compared to its average volume of 1,181,132. Stryker has a 12 month low of $111.22 and a 12 month high of $160.62. The stock has a market cap of $56,895.34, a PE ratio of 24.09, a price-to-earnings-growth ratio of 2.39 and a beta of 0.78. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.63.
Stryker (NYSE:SYK) last announced its earnings results on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.02. Stryker had a return on equity of 24.11% and a net margin of 14.67%. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same period last year, the business posted $1.39 EPS. Stryker’s revenue for the quarter was up 6.1% on a year-over-year basis. equities research analysts anticipate that Stryker will post 6.47 EPS for the current year.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction that occurred 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 owns 83,207 shares in the company, valued at $12,925,375.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 7.40% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. increased its holdings in shares of Stryker by 3.7% in the second quarter. Coldstream Capital Management Inc. now owns 17,445 shares of the medical technology company’s stock valued at $2,421,000 after purchasing an additional 626 shares during the period. Retirement Systems of Alabama increased its holdings in shares of Stryker by 2.5% in the third quarter. Retirement Systems of Alabama now owns 234,870 shares of the medical technology company’s stock valued at $33,356,000 after purchasing an additional 5,656 shares during the period. Lockheed Martin Investment Management Co. acquired a new position in shares of Stryker in the second quarter valued at approximately $1,249,000. Toronto Dominion Bank increased its holdings in shares of Stryker by 25.8% in the second quarter. Toronto Dominion Bank now owns 105,403 shares of the medical technology company’s stock valued at $14,625,000 after purchasing an additional 21,585 shares during the period. Finally, Colonial Trust Advisors grew its holdings in Stryker by 56.1% during the second quarter. Colonial Trust Advisors now owns 23,446 shares of the medical technology company’s stock worth $3,254,000 after acquiring an additional 8,426 shares during the period. 74.97% of the stock is currently owned by institutional investors.
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Stryker 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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