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

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

Other equities research analysts also recently issued reports about the stock. Morgan Stanley lifted their price target on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. UBS Group boosted their target price on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial increased their price target on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Barclays increased their target price on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Stock Performance

Shares of Stryker stock opened at $375.96 on Wednesday. The company has a market cap of $143.32 billion, a P/E ratio of 40.30, a PEG ratio of 2.78 and a beta of 0.91. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average price of $361.46 and a two-hundred day moving average price of $345.63. Stryker has a 1-year low of $266.93 and a 1-year high of $377.83.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The business 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 for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.46 earnings per share. As a group, analysts anticipate that Stryker will post 12.06 EPS for the current year.

Insider Buying and Selling at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction 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 approximately $36,879,954.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s 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 directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,381 shares of company stock worth $24,825,275 in the last quarter. 5.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Norden Group LLC purchased a new position in Stryker during the first quarter valued at approximately $280,000. Central Pacific Bank Trust Division bought a new position in shares of Stryker in the first quarter worth $39,000. Empirical Finance LLC raised its position in shares of Stryker by 3.5% in the first quarter. Empirical Finance LLC now owns 12,039 shares of the medical technology company’s stock worth $4,308,000 after buying an additional 412 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Stryker by 43.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after buying an additional 5,565 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Stryker during the first quarter worth about $4,362,000. 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.