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

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

Several other equities research analysts have also commented on SYK. Canaccord Genuity Group boosted their price objective on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Barclays raised their price objective on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Piper Sandler reissued an “overweight” rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Needham & Company LLC lifted their target price on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Truist Financial raised their price objective on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Price Performance

Shares of SYK opened at $369.02 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The stock has a market cap of $140.68 billion, a PE ratio of 39.55, a P/E/G ratio of 2.77 and a beta of 0.91. The firm has a 50-day simple moving average of $360.91 and a two-hundred day simple moving average of $345.12. Stryker has a 1-year low of $266.93 and a 1-year high of $376.04.

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

Insider Activity at Stryker

In other news, VP M Kathryn Fink sold 7,347 shares of the firm’s 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 sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,068 shares of company stock worth $3,693,972 over the last 90 days. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Stryker

A number of hedge funds and other institutional investors have recently bought and sold shares of SYK. Atlanta Consulting Group Advisors LLC bought a new stake in shares of Stryker in the 3rd quarter valued at about $256,000. Schear Investment Advisers LLC grew its position in shares of Stryker by 3.7% in the 3rd quarter. Schear Investment Advisers LLC now owns 3,217 shares of the medical technology company’s stock valued at $1,162,000 after buying an additional 116 shares during the last quarter. Turtle Creek Wealth Advisors LLC grew its position in shares of Stryker by 2.1% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 16,299 shares of the medical technology company’s stock valued at $5,888,000 after buying an additional 333 shares during the last quarter. Comgest Global Investors S.A.S. grew its position in shares of Stryker by 159.0% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 46,176 shares of the medical technology company’s stock valued at $16,682,000 after buying an additional 28,349 shares during the last quarter. Finally, Natixis Advisors LLC boosted its position in shares of Stryker by 5.9% during the 3rd quarter. Natixis Advisors LLC now owns 158,087 shares of the medical technology company’s stock valued at $57,111,000 after purchasing an additional 8,856 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

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.