Barclays Maintains an 'Equalweight' on Stryker (SYK); September Quarter 10Q Review
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Price: $329.45 +0.53%
Rating Summary:
33 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
33 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Equalweight' on Stryker (NYSE: SYK) price target of $58.00.
Barclays analyst says, "Given SYK's reorganization of its reporting structure under three segments, the company now reports income from operations from its Recon, MedSurg, and Neurotechnology & Spine businesses and we highlight net margins in the low 20's for recon, in the mid- to high teens for MedSurg and in the mid-teens for Neurotechnology & Spine..Globally, the recon business was up 4% ex-fx (versus 2% ex-fx in 1Q) as growth in hips and trauma was offset by a decline in knees...Total MedSurg grew ~10% ex-fx (versus ~12% ex-fx growth past quarter) driven by Patient Handling which grew ~29% ex-fx."
"The Neurovascular acquisition from BSX is the primary growth driver for the
Neurotechnology & Spine business. SYK now has ~$1.8 billion in long-term debt in addition to ~$3.2 billion cash and marketable securities. SYK didn't provide any update to the lawsuit filed against it by Hill-Rom in April 2011 or either of the two subpoenas from the DOJ that it received in 2010."
For more ratings news on Stryker click here and for the rating history of Stryker click here.
Shares of Stryker closed at $47.91 yesterday.
Barclays analyst says, "Given SYK's reorganization of its reporting structure under three segments, the company now reports income from operations from its Recon, MedSurg, and Neurotechnology & Spine businesses and we highlight net margins in the low 20's for recon, in the mid- to high teens for MedSurg and in the mid-teens for Neurotechnology & Spine..Globally, the recon business was up 4% ex-fx (versus 2% ex-fx in 1Q) as growth in hips and trauma was offset by a decline in knees...Total MedSurg grew ~10% ex-fx (versus ~12% ex-fx growth past quarter) driven by Patient Handling which grew ~29% ex-fx."
"The Neurovascular acquisition from BSX is the primary growth driver for the
Neurotechnology & Spine business. SYK now has ~$1.8 billion in long-term debt in addition to ~$3.2 billion cash and marketable securities. SYK didn't provide any update to the lawsuit filed against it by Hill-Rom in April 2011 or either of the two subpoenas from the DOJ that it received in 2010."
For more ratings news on Stryker click here and for the rating history of Stryker click here.
Shares of Stryker closed at $47.91 yesterday.
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