Stryker (NYSE:SYK) Lowered 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 issued to investors on Wednesday morning.

Several other research analysts also recently issued reports on SYK. Wells Fargo & Company lifted their price target on Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. lifted their target price on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report 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. Truist Financial lifted their price objective on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Finally, Wolfe Research began coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $405.80.

Stryker Stock Down 0.6 %

Shares of NYSE SYK opened at $360.05 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $375.08 and a 200 day moving average price of $356.95. Stryker has a 52 week low of $292.43 and a 52 week high of $398.20. The stock has a market capitalization of $137.26 billion, a price-to-earnings ratio of 38.59, a price-to-earnings-growth ratio of 2.82 and a beta of 0.94.

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

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.84 per share. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a yield of 0.93%. Stryker’s dividend payout ratio is 36.01%.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Stryker

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