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

Stryker (NYSE:SYKGet Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Other research analysts have also recently issued reports about the company. 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. Evercore ISI upped their price objective on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Robert W. Baird boosted their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Canaccord Genuity Group boosted their target price on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $413.45.

Check Out Our Latest Analysis on SYK

Stryker Trading Down 1.1 %

SYK opened at $390.98 on Thursday. Stryker has a 12 month low of $314.05 and a 12 month high of $406.19. The stock has a market capitalization of $149.05 billion, a price-to-earnings ratio of 41.91, a PEG ratio of 2.68 and a beta of 0.95. 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 business has a fifty day moving average price of $376.44 and a 200 day moving average price of $361.98.

Stryker (NYSE:SYKGet Free Report) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.07% and a net margin of 16.34%. During the same quarter in the previous year, the company posted $3.46 earnings per share. Sell-side analysts expect that Stryker will post 12.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Stryker

Institutional investors and hedge funds have recently modified their holdings of the company. Parnassus Investments LLC acquired a new stake in Stryker during the 3rd quarter valued at $762,798,000. International Assets Investment Management LLC grew its holdings in Stryker by 66,967.5% during the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after buying an additional 852,496 shares during the last quarter. RTW Investments LP acquired a new stake in Stryker during the 3rd quarter valued at $143,392,000. State Street Corp grew its holdings in Stryker by 2.2% during 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. Finally, FMR LLC grew its holdings in Stryker by 3.0% during 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 buying an additional 215,782 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Stryker (NYSE:SYK)

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