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Stryker Corporation (SYK) Gets a Hold Rating from Needham


In a report released today, Michael Matson from Needham maintained a Hold rating on Stryker Corporation (SYK). The company’s shares closed yesterday at $171.29.

Matson noted:

“We attended at its Orthopaedics facility in on 11/8/18. We highlight some of our take-aways from the event below.”

According to TipRanks.com, Matson is a 5-star analyst with an average return of 11.8% and a 63.9% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Stryker Corporation with a $187.50 average price target, which is a 9.5% upside from current levels. In a report issued on October 25, Cantor Fitzgerald also maintained a Hold rating on the stock with a $175 price target.

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Based on Stryker Corporation’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.24 billion and net profit of $590 million. In comparison, last year the company earned revenue of $3.01 billion and had a net profit of $434 million.

Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SYK in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Stryker Corp. engages in providing medical technology products and services. It operates through the following segments: Orthopaedics, MedSurg and Neurotechnology and Spine. The Orthopaedics segment provides reconstructive and trauma implant systems.