Stryker (NYSE:SYK) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Stryker (NYSE:SYK) from a buy rating to a hold rating in a research report report published on Friday morning.

Several other analysts have also issued reports on the company. UBS Group increased their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Canaccord Genuity Group raised their price objective on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wolfe Research assumed coverage on Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target for the company. Finally, Truist Financial increased their target price on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $393.65.

Stryker Price Performance

Shares of SYK opened at $384.85 on Friday. Stryker has a 1-year low of $285.79 and a 1-year high of $398.20. The company has a market cap of $146.71 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.90 and a beta of 0.91. The company’s fifty day simple moving average is $366.20 and its 200 day simple moving average is $349.63. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

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

Insider Activity at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the business’s 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 transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,381 shares of company stock valued at $24,825,275. 5.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Stryker

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Parnassus Investments LLC purchased a new stake in Stryker in the third quarter worth approximately $762,798,000. International Assets Investment Management LLC increased its stake in shares of Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after acquiring an additional 852,496 shares in the last quarter. RTW Investments LP bought a new stake in shares of Stryker in the 3rd quarter worth approximately $143,392,000. American Century Companies Inc. raised its position in shares of Stryker by 287.6% in the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after purchasing an additional 375,166 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after buying an additional 316,404 shares in the last quarter. 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.