Stryker (NYSE:SYK) Lowered to Hold Rating by StockNews.com

Stryker (NYSE:SYK) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

SYK has been the subject of a number of other research reports. Stifel Nicolaus reduced their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Piper Sandler reiterated an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Citigroup boosted their price target on Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price target on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group boosted their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Price Performance

Shares of SYK opened at $389.88 on Friday. The company has a market cap of $148.63 billion, a P/E ratio of 41.79, a PEG ratio of 2.93 and a beta of 0.91. The stock has a fifty day moving average price of $365.91 and a 200 day moving average price of $348.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker has a 12 month low of $285.79 and a 12 month high of $398.20.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.46 EPS. On average, research analysts forecast that Stryker will post 12.06 earnings per share for the current year.

Insider Activity

In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 42.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Viju Menon sold 600 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. This represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock valued at $24,825,275 over the last three months. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Dunhill Financial LLC boosted its stake in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the period. Centennial Bank AR boosted its stake in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC bought a new stake in Stryker during the 3rd quarter valued at approximately $36,000. HBW Advisory Services LLC bought a new stake in Stryker during the 3rd quarter valued at approximately $42,000. Finally, Hara Capital LLC bought a new stake in Stryker during the 3rd quarter valued at approximately $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

About Stryker

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.