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

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

SYK has been the subject of a number of other research reports. 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 note on Wednesday, October 30th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Evercore ISI upped their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays lifted their target price on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus upped their price target on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $419.37.

Stryker Stock Performance

Shares of SYK stock opened at $390.90 on Thursday. Stryker has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The firm has a market cap of $149.02 billion, a price-to-earnings ratio of 50.37, a PEG ratio of 2.68 and a beta of 0.95. The stock’s 50-day moving average is $376.56 and its two-hundred day moving average is $362.38.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.86% and a net margin of 13.25%. During the same quarter last year, the business earned $3.46 EPS. Analysts predict that Stryker will post 13.53 earnings per share for the current year.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Stryker

A number of institutional investors have recently made changes to their positions in SYK. Dunhill Financial LLC raised its stake in Stryker by 94.9% in 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 last quarter. Darwin Wealth Management LLC acquired a new position in shares of Stryker in the third quarter valued at approximately $36,000. Activest Wealth Management purchased a new position in shares of Stryker during the fourth quarter valued at approximately $36,000. Crews Bank & Trust acquired a new stake in Stryker during the fourth quarter worth approximately $39,000. Finally, HBW Advisory Services LLC purchased a new stake in Stryker in the 3rd quarter worth approximately $42,000. 77.09% of the stock is owned by institutional investors and hedge funds.

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.