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

StockNews.com lowered shares of Stryker (NYSE:SYK) from a buy rating to a hold rating in a research note published on Wednesday.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company upped their price target on shares of Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $425.00 target price on shares of Stryker in a research note on Tuesday, January 7th. Citigroup boosted their price target on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Piper Sandler reiterated an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group boosted their target price on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Trading Up 0.1 %

Stryker stock opened at $394.08 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The stock has a 50-day simple moving average of $376.03 and a 200 day simple moving average of $360.39. The stock has a market capitalization of $150.23 billion, a P/E ratio of 42.24, a PEG ratio of 2.68 and a beta of 0.95. Stryker has a 52 week low of $307.23 and a 52 week high of $398.20.

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

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. Stryker’s payout ratio is 36.01%.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’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 completion of the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SYK. Dunhill Financial LLC increased its position in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the period. Centennial Bank AR grew its stake in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in Stryker in the third quarter valued at $36,000. Crews Bank & Trust bought a new position in Stryker during the 4th quarter worth $39,000. Finally, Hara Capital LLC acquired a new position in Stryker during the 3rd quarter worth about $42,000. Institutional investors and hedge funds 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.