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

StockNews.com lowered shares of Stryker (NYSE:SYK) from a buy rating to a hold rating in a report released on Wednesday morning.

A number of other research analysts have also recently issued reports on the company. Barclays lifted their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Citigroup upped their target price on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. raised their price target on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Truist Financial upped their price objective on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $442.00 target price on shares of Stryker in a research note on Tuesday, January 7th. Five research 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Trading Up 0.1 %

Shares of Stryker stock opened at $394.08 on Wednesday. The stock has a market capitalization of $150.23 billion, a P/E ratio of 42.24, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95. Stryker has a 12-month low of $307.23 and a 12-month high of $398.20. 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 company has a 50-day simple moving average of $376.03 and a 200 day simple moving average of $360.39.

Stryker (NYSE:SYK) last posted its 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 analysts’ expectations of $5.37 billion. During the same quarter in the previous year, the company posted $2.46 earnings per share. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. Research analysts expect that Stryker will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. This is a boost from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio is presently 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 value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Stryker

Institutional investors have recently bought and sold shares of the company. AE Wealth Management LLC boosted its holdings in Stryker by 101.8% during the second quarter. AE Wealth Management LLC now owns 3,414 shares of the medical technology company’s stock worth $1,162,000 after purchasing an additional 1,722 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Stryker by 79.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 12,579 shares of the medical technology company’s stock valued at $4,280,000 after acquiring an additional 5,553 shares in the last quarter. Evergreen Capital Management LLC increased its position in shares of Stryker by 5.2% in the second quarter. Evergreen Capital Management LLC now owns 4,259 shares of the medical technology company’s stock valued at $1,453,000 after acquiring an additional 212 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Stryker by 60.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 65,552 shares of the medical technology company’s stock worth $22,304,000 after acquiring an additional 24,589 shares in the last quarter. Finally, Insigneo Advisory Services LLC boosted its position in Stryker by 31.9% during the second quarter. Insigneo Advisory Services LLC now owns 2,150 shares of the medical technology company’s stock valued at $679,000 after purchasing an additional 520 shares during the last quarter. 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.