Stryker (NYSE:SYK) Rating Lowered to Hold at StockNews.com

Stryker (NYSE:SYK) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

SYK has been the subject of a number of other research reports. Stifel Nicolaus dropped their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Wolfe Research assumed coverage on shares of Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Barclays upped their price target on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. The Goldman Sachs Group assumed coverage on Stryker in a research report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective on the stock. Finally, Evercore ISI dropped their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.58.

Stryker Trading Up 0.5 %

NYSE:SYK traded up $1.72 during trading hours on Monday, reaching $371.97. 910,076 shares of the company were exchanged, compared to its average volume of 1,291,354. The firm has a market cap of $141.70 billion, a price-to-earnings ratio of 42.46, a PEG ratio of 2.84 and a beta of 0.91. The stock has a 50 day simple moving average of $343.03 and a 200 day simple moving average of $342.53. Stryker has a 52-week low of $249.98 and a 52-week high of $374.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.02. The business 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%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the company posted $2.54 EPS. As a group, analysts predict that Stryker will post 12 EPS for the current year.

Insider Buying and Selling

In related news, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Viju Menon sold 600 shares of Stryker stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s 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 completion of the transaction, 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. Over the last three months, insiders sold 210,600 shares of company stock worth $68,330,400. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Aspen Investment Management Inc boosted its holdings in shares of Stryker by 0.7% during the first quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock valued at $1,563,000 after acquiring an additional 31 shares during the period. Harbor Investment Advisory LLC grew its position in Stryker by 0.4% in 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 during the last quarter. Proficio Capital Partners LLC increased its stake in shares of Stryker by 2.4% in the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after purchasing an additional 33 shares during the period. Versant Capital Management Inc raised its holdings in shares of Stryker by 4.0% during the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after buying an additional 33 shares during the last quarter. Finally, Stanley Laman Group Ltd. boosted its position in shares of Stryker by 4.6% during the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after buying an additional 33 shares during the period. 77.09% of the stock is currently owned by institutional investors.

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.