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

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

Several other analysts also recently issued reports on the stock. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Truist Financial upped their target price on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. UBS Group lifted their target price on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird upped their price target on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Stock Down 0.4 %

Shares of SYK stock opened at $358.72 on Wednesday. Stryker has a 1 year low of $292.43 and a 1 year high of $398.20. 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 business’s fifty day moving average is $375.06 and its 200-day moving average is $356.96. The stock has a market cap of $136.75 billion, a PE ratio of 38.45, a price-to-earnings-growth ratio of 2.82 and a beta of 0.94.

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

Insider Buying and Selling at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Several institutional investors have recently modified their holdings of the business. State Street Corp grew its position 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 valued at $5,279,788,000 after buying an additional 316,404 shares during the last quarter. FMR LLC boosted its stake in shares of Stryker by 3.0% in 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 purchasing an additional 215,782 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Stryker by 2.5% during the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after buying an additional 165,490 shares during the period. Clearbridge Investments LLC lifted its holdings in Stryker by 2.9% in the second quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after buying an additional 66,482 shares during the period. Finally, Parnassus Investments LLC bought a new stake in Stryker during the third quarter valued at $762,798,000. 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.