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

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

A number of other research firms have also recently weighed in on SYK. Royal Bank of Canada raised their price target on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Evercore ISI raised their price target on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Needham & Company LLC raised their price target on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group raised their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Truist Financial lifted their target price on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $393.65.

Stryker Trading Up 1.1 %

Shares of SYK opened at $389.88 on Friday. Stryker has a 1 year low of $285.79 and a 1 year high of $398.20. 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 stock has a 50 day simple moving average of $365.91 and a 200-day simple moving average of $348.95. The stock has a market cap of $148.63 billion, a PE ratio of 41.79, a PEG ratio of 2.93 and a beta of 0.91.

Stryker (NYSE:SYK) last issued 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 business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the firm posted $2.46 EPS. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts predict that Stryker will post 12.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated 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 transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,381 shares of company stock worth $24,825,275. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYK. CreativeOne Wealth LLC lifted its holdings in shares of Stryker by 55.7% in the first quarter. CreativeOne Wealth LLC now owns 1,924 shares of the medical technology company’s stock valued at $688,000 after purchasing an additional 688 shares in the last quarter. Gamco Investors INC. ET AL bought a new stake in shares of Stryker in the first quarter valued at about $5,034,000. LRI Investments LLC bought a new stake in shares of Stryker in the first quarter valued at about $107,000. Magnetar Financial LLC bought a new stake in shares of Stryker in the first quarter valued at about $773,000. Finally, Fairview Capital Investment Management LLC bought a new stake in shares of Stryker in the first quarter valued at about $215,000. 77.09% of the stock is currently 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.