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

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

SYK has been the topic of several other reports. UBS Group raised their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Evercore ISI boosted their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their price objective on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Five 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Price Performance

Stryker stock opened at $369.02 on Wednesday. Stryker has a one year low of $266.93 and a one year high of $376.04. The business has a fifty day moving average price of $360.91 and a 200-day moving average price of $345.12. 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 firm has a market capitalization of $140.68 billion, a P/E ratio of 39.55, a PEG ratio of 2.77 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 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 during the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the company earned $2.46 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities research analysts forecast that Stryker will post 12.06 EPS for the current year.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 600 shares of Stryker stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,068 shares of company stock valued at $3,693,972 in the last three months. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Stryker

Several large investors have recently modified their holdings of the business. 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 raised its holdings 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 purchasing an additional 116 shares in the last quarter. Turtle Creek Wealth Advisors LLC raised its holdings 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 purchasing an additional 333 shares in the last quarter. Comgest Global Investors S.A.S. raised its stake in shares of Stryker by 159.0% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 46,176 shares of the medical technology company’s stock worth $16,682,000 after acquiring an additional 28,349 shares in the last quarter. Finally, Natixis Advisors LLC raised its stake 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 worth $57,111,000 after acquiring an additional 8,856 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

About Stryker

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.