Stryker (NYSE:SYK) Cut to “Hold” at StockNews.com

Stryker (NYSE:SYK) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Several other research firms have also recently commented on SYK. UBS Group raised their target price on Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Piper Sandler lifted their price objective on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group started coverage on shares of Stryker in a research report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 target price for the company. Needham & Company LLC raised shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 target price on the stock in a research note on Wednesday, May 22nd. Finally, Evercore ISI dropped their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $370.32.

Stryker Stock Down 0.7 %

Shares of Stryker stock opened at $332.02 on Wednesday. Stryker has a twelve month low of $249.98 and a twelve month high of $361.41. The stock has a market capitalization of $126.48 billion, a price-to-earnings ratio of 37.90, a PEG ratio of 2.63 and a beta of 0.89. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The business’s 50 day simple moving average is $337.45 and its 200-day simple moving average is $334.48.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.14 EPS. Equities research analysts forecast that Stryker will post 11.95 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SYK. Vanguard Group Inc. boosted its stake in Stryker by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after purchasing an additional 309,592 shares during the period. Greenleaf Trust raised its stake in Stryker by 0.6% during the 1st quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock valued at $6,655,089,000 after purchasing an additional 108,080 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after purchasing an additional 642,178 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Stryker by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after purchasing an additional 813,311 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Stryker by 4.4% in the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after buying an additional 223,728 shares during the period. 77.09% 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 two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.