Stryker Co. (NYSE:SYK – Get Rating) shares reached a new 52-week low on Tuesday after BTIG Research lowered their price target on the stock from $278.00 to $244.00. BTIG Research currently has a buy rating on the stock. Stryker traded as low as $188.84 and last traded at $189.27, with a volume of 2065892 shares trading hands. The stock had previously closed at $194.76.
Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus lowered their price target on shares of Stryker from $285.00 to $245.00 in a research report on Monday. TheStreet cut shares of Stryker from a “b” rating to a “c+” rating in a research report on Monday, May 2nd. Citigroup decreased their price objective on shares of Stryker from $310.00 to $280.00 in a report on Tuesday, May 17th. Bank of America cut shares of Stryker from a “buy” rating to a “neutral” rating in a report on Monday, July 11th. Finally, Morgan Stanley decreased their price objective on shares of Stryker from $270.00 to $220.00 and set an “equal weight” rating for the company in a report on Friday. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $283.88.
Hedge Funds Weigh In On Stryker
Institutional investors and hedge funds have recently modified their holdings of the stock. Manchester Capital Management LLC grew its stake in shares of Stryker by 19.8% in the fourth quarter. Manchester Capital Management LLC now owns 242 shares of the medical technology company’s stock valued at $65,000 after acquiring an additional 40 shares in the last quarter. Vigilant Capital Management LLC lifted its position in Stryker by 9.6% during the first quarter. Vigilant Capital Management LLC now owns 458 shares of the medical technology company’s stock worth $122,000 after purchasing an additional 40 shares during the period. Capital City Trust Co. FL lifted its position in Stryker by 3.4% during the first quarter. Capital City Trust Co. FL now owns 1,200 shares of the medical technology company’s stock worth $321,000 after purchasing an additional 40 shares during the period. Evergreen Wealth Solutions LLC lifted its position in Stryker by 2.9% during the first quarter. Evergreen Wealth Solutions LLC now owns 1,414 shares of the medical technology company’s stock worth $378,000 after purchasing an additional 40 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Stryker by 1.7% during the first quarter. Assenagon Asset Management S.A. now owns 2,448 shares of the medical technology company’s stock worth $654,000 after purchasing an additional 42 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.
Stryker Price Performance
The company’s 50-day moving average is $214.13 and its two-hundred day moving average is $242.67. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.98 and a quick ratio of 1.18. The firm has a market cap of $71.57 billion, a P/E ratio of 35.98, a PEG ratio of 2.26 and a beta of 1.04.
Stryker (NYSE:SYK – Get Rating) last posted its earnings results on Thursday, April 28th. The medical technology company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.04. The firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.19 billion. Stryker had a net margin of 11.56% and a return on equity of 24.09%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.93 earnings per share. Sell-side analysts anticipate that Stryker Co. will post 9.64 EPS for the current fiscal year.
Stryker Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Thursday, June 30th will be issued a $0.695 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $2.78 dividend on an annualized basis and a yield of 1.47%. Stryker’s dividend payout ratio (DPR) is presently 52.85%.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.