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

StockNews.com downgraded shares of Stryker (NYSE:SYK) from a buy rating to a hold rating in a research report released on Friday.

A number of other research analysts have also recently commented on SYK. Robert W. Baird upped their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Needham & Company LLC boosted their price target on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Citigroup boosted their target price on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Wolfe Research started coverage on Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Performance

Stryker stock opened at $384.88 on Friday. The firm has a 50 day simple moving average of $366.20 and a 200-day simple moving average of $349.36. The stock has a market cap of $146.72 billion, a price-to-earnings ratio of 41.25, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker has a 1-year low of $285.79 and a 1-year high of $398.20.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the business posted $2.46 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, analysts expect that Stryker will post 12.06 EPS for the current year.

Insider Activity

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,381 shares of company stock worth $24,825,275. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Stryker

A number of hedge funds have recently modified their holdings of the business. Dunhill Financial LLC grew its position in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the last quarter. Centennial Bank AR boosted its stake in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of Stryker during the third quarter worth about $36,000. HBW Advisory Services LLC acquired a new position in Stryker in the 3rd quarter valued at about $42,000. Finally, Hara Capital LLC purchased a new stake in Stryker during the 3rd quarter valued at approximately $42,000. 77.09% of the stock is currently owned by hedge funds and other 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.