Investors Buy Stryker (SYK) on Weakness

Traders bought shares of Stryker Corporation (NYSE:SYK) on weakness during trading on Friday. $64.94 million flowed into the stock on the tick-up and $30.83 million flowed out of the stock on the tick-down, for a money net flow of $34.11 million into the stock. Of all stocks tracked, Stryker had the 24th highest net in-flow for the day. Stryker traded down ($0.37) for the day and closed at $158.23

Several analysts have recently issued reports on the company. Royal Bank of Canada reissued a “buy” rating and set a $175.00 target price on shares of Stryker in a report on Tuesday, January 9th. Piper Jaffray Companies increased their target price on Stryker from $156.00 to $166.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Cantor Fitzgerald reissued a “neutral” rating and set a $163.00 target price on shares of Stryker in a report on Friday, January 5th. Wells Fargo & Co reissued an “outperform” rating and set a $174.00 target price (up from $166.00) on shares of Stryker in a report on Tuesday, January 2nd. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. raised Stryker from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. Stryker presently has a consensus rating of “Hold” and an average price target of $156.60.

The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.63. The firm has a market cap of $59,220.00, a PE ratio of 33.74, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.02. Stryker had a return on equity of 24.11% and a net margin of 14.67%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the prior year, the company earned $1.39 EPS. Stryker’s revenue for the quarter was up 6.1% on a year-over-year basis. sell-side analysts predict that Stryker Corporation will post 6.49 earnings per share for the current fiscal 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 $0.47 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This is an increase from Stryker’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a yield of 1.19%. Stryker’s dividend payout ratio (DPR) is currently 40.09%.

In other Stryker news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $155.34, for a total value of $776,700.00. Following the completion of the transaction, the insider now directly owns 83,207 shares in the company, valued at $12,925,375.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.40% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Acrospire Investment Management LLC bought a new position in Stryker in the second quarter valued at about $111,000. Sawyer & Company Inc bought a new position in Stryker in the fourth quarter valued at about $125,000. Sit Investment Associates Inc. raised its position in Stryker by 114.3% in the fourth quarter. Sit Investment Associates Inc. now owns 825 shares of the medical technology company’s stock valued at $128,000 after purchasing an additional 440 shares during the last quarter. Motco raised its position in Stryker by 50.7% in the second quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 278 shares during the last quarter. Finally, Oak Point Wealth Management bought a new position in Stryker in the fourth quarter valued at about $145,000. Hedge funds and other institutional investors own 74.90% of the company’s stock.

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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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