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

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

Several other research analysts also recently issued reports on the stock. Wolfe Research assumed coverage on shares of Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Canaccord Genuity Group upped their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Needham & Company LLC upped their target price on shares of Stryker from $409.00 to $442.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Piper Sandler restated an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, Citigroup lifted their target price on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Stock Performance

Shares of SYK stock opened at $358.72 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average of $375.06 and a 200 day moving average of $356.96. The firm has a market capitalization of $136.75 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 2.82 and a beta of 0.94. Stryker has a 52 week low of $292.43 and a 52 week high of $398.20.

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

Insider Buying and Selling at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.90% of the stock is currently owned by insiders.

Institutional Trading of Stryker

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after acquiring an additional 316,404 shares during the period. FMR LLC raised its stake in Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after acquiring an additional 215,782 shares in the last quarter. Geode Capital Management LLC boosted its position in Stryker by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after acquiring an additional 165,490 shares during the period. Clearbridge Investments LLC grew its stake in shares of Stryker by 2.9% in the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock worth $790,554,000 after purchasing an additional 66,482 shares in the last quarter. Finally, Parnassus Investments LLC acquired a new position in shares of Stryker during the third quarter valued at $762,798,000. 77.09% of the stock is owned by 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.