StockNews.com Downgrades Stryker (NYSE:SYK) to Hold

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

Several other analysts also recently issued reports on SYK. Truist Financial reduced their price target on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Piper Sandler reissued an “overweight” rating and set a $380.00 target price on shares of Stryker in a research report on Tuesday, September 10th. BTIG Research lifted their price target on shares of Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Needham & Company LLC lifted their price target on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group initiated coverage on Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $378.58.

Stryker Stock Performance

Shares of Stryker stock opened at $364.00 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. Stryker has a 52 week low of $249.98 and a 52 week high of $374.63. The firm has a fifty day moving average of $343.60 and a two-hundred day moving average of $342.61. The stock has a market capitalization of $138.67 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 2.84 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.02. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.54 EPS. As a group, equities research analysts predict that Stryker will post 12 EPS for the current year.

Insider Activity at Stryker

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The disclosure for this sale can be found here. Over the last three months, insiders sold 220,068 shares of company stock valued at $71,811,372. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Several large investors have recently modified their holdings of SYK. Burkett Financial Services LLC bought a new position in Stryker in the fourth quarter worth approximately $25,000. Centennial Bank AR raised its position in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares in the last quarter. DSM Capital Partners LLC purchased a new stake in shares of Stryker during the 4th quarter worth $34,000. Central Pacific Bank Trust Division purchased a new stake in shares of Stryker during the 1st quarter worth $39,000. Finally, Accent Capital Management LLC bought a new stake in Stryker during the fourth quarter valued at about $60,000. Institutional investors own 77.09% of the company’s stock.

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.