Stryker (NYSE:SYK) Cut to “Hold” at StockNews.com

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

Several other equities research analysts have also commented on SYK. BTIG Research boosted their price target on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. UBS Group increased their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their price target on shares of Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Price Performance

Shares of Stryker stock opened at $361.52 on Wednesday. The stock has a market cap of $137.82 billion, a price-to-earnings ratio of 38.75, a price-to-earnings-growth ratio of 2.82 and a beta of 0.94. The stock has a 50 day moving average price of $375.06 and a 200-day moving average price of $356.96. Stryker has a one year low of $292.96 and a one 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.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the company earned $2.46 earnings per share. Equities analysts expect that Stryker will post 12.06 EPS for the current year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s dividend payout ratio is presently 36.01%.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’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 sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is currently owned by company insiders.

Institutional Trading of Stryker

A number of large investors have recently modified their holdings of the stock. Avestar Capital LLC boosted its stake in shares of Stryker by 1.1% in the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock valued at $1,065,000 after buying an additional 31 shares during the period. Patrick M Sweeney & Associates Inc. raised its holdings in shares of Stryker by 1.5% in the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after purchasing an additional 32 shares in the last quarter. Grimes & Company Inc. lifted its position in shares of Stryker by 0.4% during the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock worth $2,977,000 after purchasing an additional 33 shares during the last quarter. Sachetta LLC boosted its position in shares of Stryker by 16.3% during the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after acquiring an additional 34 shares in the last quarter. Finally, Moran Wealth Management LLC increased its holdings in shares of Stryker by 0.4% in the 3rd quarter. Moran Wealth Management LLC now owns 9,047 shares of the medical technology company’s stock valued at $3,268,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other 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.