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

StockNews.com downgraded shares of Stryker (NYSE:SYK) from a buy rating to a hold rating in a research note issued to investors on Monday.

Several other brokerages also recently issued reports on SYK. UBS Group lifted their price objective on Stryker from $351.00 to $366.00 and gave the company a neutral rating in a research report on Wednesday, July 31st. Royal Bank of Canada reiterated an outperform rating and issued a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. Morgan Stanley lifted their price objective on Stryker from $345.00 to $350.00 and gave the company an equal weight rating in a research report on Monday, July 15th. Truist Financial cut their price objective on Stryker from $364.00 to $345.00 and set a hold rating for the company in a research report on Thursday, August 1st. Finally, Stifel Nicolaus cut their price objective on Stryker from $375.00 to $365.00 and set a buy rating for the company in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker currently has a consensus rating of Moderate Buy and a consensus price target of $378.58.

Stryker Price Performance

Stryker stock opened at $361.29 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The company 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. Stryker has a one year low of $249.98 and a one year high of $374.63. The business has a 50 day simple moving average of $344.08 and a 200 day simple moving average of $342.74.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.79 by $0.02. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. Stryker’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $2.54 EPS. On average, sell-side analysts forecast that Stryker will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

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

Insider Buying and Selling

In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction 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 completion of the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Viju Menon sold 600 shares of Stryker stock in a transaction 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 completion of the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction 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 directly owns 10,042 shares of the company’s stock, valued at $3,715,540. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock valued at $71,811,372 over the last three months. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYK. Global Assets Advisory LLC acquired a new position in Stryker in the first quarter valued at about $341,049,000. JPMorgan Chase & Co. grew its stake in Stryker by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after acquiring an additional 813,311 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after acquiring an additional 642,178 shares during the period. 1832 Asset Management L.P. grew its stake in Stryker by 146.9% in the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after acquiring an additional 522,817 shares during the period. Finally, American Century Companies Inc. grew its stake in Stryker by 287.6% in the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after acquiring an additional 375,166 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

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.