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

StockNews.com cut shares of Stryker (NYSE:SYK) from a buy rating to a hold rating in a report published on Thursday.

SYK has been the topic of several other reports. Truist Financial upped their target price on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada upped their target price on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Citigroup reaffirmed a “buy” rating and issued a $450.00 target price on shares of Stryker in a research report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 target price on shares of Stryker in a research report on Wednesday, January 29th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $422.15.

Stryker Stock Down 3.5 %

NYSE:SYK opened at $381.86 on Thursday. The firm has a market capitalization of $145.71 billion, a price-to-earnings ratio of 49.21, a PEG ratio of 2.93 and a beta of 0.96. Stryker has a 1-year low of $314.93 and a 1-year high of $406.19. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The business’s fifty day moving average price is $382.21 and its 200 day moving average price is $372.52.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the business earned $3.46 EPS. On average, sell-side analysts forecast that Stryker will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.88%. Stryker’s payout ratio is 43.30%.

Insider Activity at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Stryker

Several large investors have recently added to or reduced their stakes in SYK. Norges Bank acquired a new position in Stryker in the 4th quarter valued at approximately $1,710,744,000. Parnassus Investments LLC acquired a new position in Stryker in the 3rd quarter valued at approximately $762,798,000. Raymond James Financial Inc. acquired a new position in Stryker in the 4th quarter valued at approximately $353,394,000. FMR LLC raised its holdings in Stryker by 10.0% in the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock valued at $2,892,946,000 after acquiring an additional 727,850 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in Stryker by 52,520.8% in the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock valued at $214,660,000 after acquiring an additional 595,061 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.