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

StockNews.com lowered shares of Stryker (NYSE:SYK) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Other research analysts have also recently issued reports about the stock. UBS Group boosted their target price on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Citigroup boosted their price objective on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Wolfe Research initiated coverage on Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price for the company. Canaccord Genuity Group boosted their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price objective on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $393.65.

Stryker Stock Down 0.1 %

Shares of Stryker stock opened at $384.63 on Friday. The company has a fifty day moving average price of $366.45 and a 200 day moving average price of $350.00. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. Stryker has a twelve month low of $285.79 and a twelve month high of $398.20. The stock has a market cap of $146.63 billion, a price-to-earnings ratio of 41.23, a price-to-earnings-growth ratio of 2.90 and a beta of 0.91.

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

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. This trade represents a 17.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,781 shares of company stock valued at $24,612,275. Insiders own 5.50% of the company’s stock.

Institutional Trading of Stryker

Large investors have recently added to or reduced their stakes in the business. Dunhill Financial LLC increased its holdings in shares of Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the period. Centennial Bank AR increased its stake in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares during the period. Darwin Wealth Management LLC bought a new stake in shares of Stryker during the 3rd quarter worth about $36,000. Hara Capital LLC acquired a new stake in shares of Stryker in the 3rd quarter worth approximately $42,000. Finally, HBW Advisory Services LLC bought a new position in shares of Stryker in the third quarter valued at approximately $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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.