Wall Street Zen Downgrades Stryker (NYSE:SYK) to Hold

Stryker (NYSE:SYKGet Free Report) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research firms have also recently commented on SYK. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 22nd. Wells Fargo & Company raised their target price on shares of Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Piper Sandler reaffirmed an “overweight” rating on shares of Stryker in a report on Tuesday. BTIG Research increased their price target on shares of Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a report on Friday. Finally, Sanford C. Bernstein boosted their price objective on Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average target price of $426.95.

Check Out Our Latest Research Report on Stryker

Stryker Trading Up 4.3%

Shares of NYSE:SYK opened at $369.39 on Friday. Stryker has a 52-week low of $329.16 and a 52-week high of $404.87. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. The company has a market capitalization of $141.26 billion, a P/E ratio of 43.97, a price-to-earnings-growth ratio of 2.27 and a beta of 0.89. The company has a 50-day simple moving average of $359.40 and a 200 day simple moving average of $371.80.

Stryker (NYSE:SYKGet Free Report) last released its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.40 by $0.07. Stryker had a return on equity of 24.73% and a net margin of 12.92%.The firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the prior year, the company earned $4.01 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Sell-side analysts forecast that Stryker will post 13.47 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO William E. Berry, Jr. sold 1,953 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the transaction, the chief accounting officer owned 2,833 shares of the company’s stock, valued at $1,035,433.17. The trade was a 40.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the sale, the director owned 2,702,108 shares in the company, valued at $954,600,714.24. The trade was a 9.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 522,118 shares of company stock worth $185,381,932. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Diversified Trust Co grew its position in Stryker by 45.6% in the third quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company’s stock valued at $4,601,000 after acquiring an additional 3,899 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Stryker in the 2nd quarter valued at approximately $4,785,000. AXQ Capital LP bought a new stake in shares of Stryker during the 2nd quarter valued at approximately $567,000. Hendley & Co. Inc. increased its position in Stryker by 60.3% during the 2nd quarter. Hendley & Co. Inc. now owns 14,018 shares of the medical technology company’s stock worth $5,546,000 after purchasing an additional 5,274 shares in the last quarter. Finally, ABN AMRO Bank N.V. acquired a new position in Stryker during the 2nd quarter worth approximately $191,047,000. 77.09% of the stock is owned by institutional investors.

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About Stryker

(Get Free Report)

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

Further Reading

Analyst Recommendations for Stryker (NYSE:SYK)

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