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

StockNews.com lowered shares of Stryker (NYSE:SYK) from a buy rating to a hold rating in a research report sent to investors on Monday.

Other research analysts have also issued reports about the company. The Goldman Sachs Group began coverage on Stryker in a research report on Thursday, May 30th. They set a neutral rating and a $372.00 price target on the stock. BTIG Research upped their price target on Stryker from $360.00 to $374.00 and gave the company a buy rating in a research report on Wednesday, August 28th. Needham & Company LLC upped their price target on Stryker from $392.00 to $393.00 and gave the company a buy rating in a research report on Thursday, August 1st. Stifel Nicolaus dropped their price target on Stryker from $375.00 to $365.00 and set a buy rating on the stock in a research report on Wednesday, July 31st. Finally, Truist Financial lowered their target price on Stryker from $364.00 to $345.00 and set a hold rating on the stock in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $378.58.

Stryker Stock Down 0.7 %

Shares of Stryker stock opened at $361.29 on Monday. The stock’s fifty day moving average is $344.08 and its 200-day moving average is $342.74. The firm has a market capitalization of $137.68 billion, a PE ratio of 41.24, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. Stryker has a 12-month low of $249.98 and a 12-month high of $374.63.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.02. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. Stryker’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.54 earnings per share. Equities analysts anticipate that Stryker will post 12 earnings per share for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio is 36.53%.

Insider Activity

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,068 shares of company stock valued at $71,811,372. Insiders own 5.90% of the company’s stock.

Institutional Trading of Stryker

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aspen Investment Management Inc grew its holdings in shares of Stryker by 0.7% during the 1st quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock worth $1,563,000 after purchasing an additional 31 shares in the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of Stryker by 0.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after purchasing an additional 31 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Stryker by 2.4% during the 1st quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after purchasing an additional 33 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Stryker by 4.0% during the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after purchasing an additional 33 shares in the last quarter. Finally, Stanley Laman Group Ltd. grew its holdings in shares of Stryker by 4.6% during the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after purchasing an additional 33 shares in 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.