Credit Suisse Group Trims Stryker (NYSE:SYK) Target Price to $162.00

Stryker (NYSE:SYK) had its price target decreased by Credit Suisse Group from $247.00 to $162.00 in a research note released on Wednesday morning, The Fly reports. Credit Suisse Group currently has an outperform rating on the medical technology company’s stock.

Several other analysts have also weighed in on SYK. SunTrust Banks began coverage on shares of Stryker in a research report on Tuesday, January 7th. They set a hold rating and a $217.00 target price on the stock. BTIG Research reiterated a buy rating on shares of Stryker in a research report on Thursday, January 30th. Goldman Sachs Group began coverage on shares of Stryker in a research report on Wednesday, February 12th. They set a buy rating and a $248.00 target price on the stock. Piper Jaffray Companies lowered shares of Stryker from an overweight rating to a neutral rating and set a $210.00 target price on the stock. in a research report on Tuesday, January 7th. Finally, Stifel Nicolaus reduced their price target on shares of Stryker from $250.00 to $145.00 and set a buy rating on the stock in a research report on Tuesday, March 24th. Seven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $217.24.

NYSE SYK traded down $4.11 during midday trading on Wednesday, hitting $159.22. The company had a trading volume of 3,396,992 shares, compared to its average volume of 3,686,982. The company has a quick ratio of 1.84, a current ratio of 2.58 and a debt-to-equity ratio of 0.80. The stock has a market cap of $61.18 billion, a price-to-earnings ratio of 29.05, a P/E/G ratio of 1.78 and a beta of 0.80. The firm has a fifty day simple moving average of $188.80 and a two-hundred day simple moving average of $205.00. Stryker has a fifty-two week low of $124.54 and a fifty-two week high of $226.30.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.03. The company had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.11 billion. Stryker had a net margin of 13.99% and a return on equity of 25.75%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $2.18 EPS. As a group, equities analysts predict that Stryker will post 8.83 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Monday, March 30th. Stryker’s dividend payout ratio (DPR) is 27.85%.

A number of large investors have recently modified their holdings of the business. ERTS Wealth Advisors LLC bought a new stake in Stryker during the fourth quarter worth $25,000. Princeton Global Asset Management LLC acquired a new stake in Stryker during the 4th quarter worth approximately $29,000. Procyon Private Wealth Partners LLC acquired a new stake in Stryker during the 4th quarter worth approximately $31,000. Evolution Wealth Advisors LLC acquired a new stake in Stryker during the 4th quarter worth approximately $33,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in Stryker during the 4th quarter worth approximately $33,000. 73.10% of the stock is owned by hedge funds and other institutional investors.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

Read More: Do stock splits help investors?

The Fly

Analyst Recommendations for Stryker (NYSE:SYK)

Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.