StockNews.com Downgrades Stryker (NYSE:SYK) to Hold

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

Several other brokerages have also commented on SYK. BTIG Research boosted their target price on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citigroup boosted their price target on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Wolfe Research began coverage on Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective for the company. Robert W. Baird boosted their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI increased 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. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Stryker Trading Down 1.4 %

Shares of Stryker stock opened at $384.85 on Friday. Stryker has a 1-year low of $285.79 and a 1-year high of $398.20. The stock has a market cap of $146.71 billion, a P/E ratio of 41.25, a P/E/G ratio of 2.94 and a beta of 0.91. 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’s 50 day simple moving average is $366.20 and its 200-day simple moving average is $349.48.

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

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 17.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,381 shares of company stock valued at $24,825,275 in the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Stryker by 78.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after buying an additional 58,673 shares during the last quarter. OFI Invest Asset Management lifted its stake in shares of Stryker by 3,210.9% in the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock worth $1,062,000 after buying an additional 3,243 shares in the last quarter. Tidal Investments LLC boosted its position in Stryker by 14.2% during the first quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock worth $4,853,000 after acquiring an additional 1,681 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Stryker by 2.7% during the second quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock worth $210,289,000 after buying an additional 16,504 shares during the last quarter. Finally, Sivik Global Healthcare LLC raised its stake in Stryker by 8.0% during the third quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock worth $9,754,000 after purchasing an additional 2,000 shares during the period. 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.