Stryker Corporation (NYSE:SYK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “Stryker exited the second quarter on a solid note, beating the Zacks Consensus Estimate on both counts. Solid performance in the MAKO platform drove revenues. An upbeat guidance for the full year instills investor confidence in the stock. Stryker has a diversified product portfolio. Continued strong demand for hemorrhagic and ischemic stroke products and neuro-powered instruments boosted sales in the neurotechnology segment. Stryker has had an impressive run on the bourse over the last three months, trading above the broader industry. However, volatility in foreign currency exchange is likely to impede revenue growth. Stryker's also faces supply-side headwinds and has been grappling with issues in the spine business for long. Also, China might prove to be a challenging market.”

SYK has been the topic of a number of other reports. Cowen and Company set a $150.00 price objective on Stryker Corporation and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Morgan Stanley restated an “overweight” rating and set a $160.00 price objective (up from $155.00) on shares of Stryker Corporation in a research report on Monday, July 10th. Cantor Fitzgerald started coverage on Stryker Corporation in a research report on Thursday, June 29th. They set a “neutral” rating and a $153.00 price objective on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $140.00 price objective (up from $135.00) on shares of Stryker Corporation in a research report on Wednesday, April 26th. Finally, Citigroup Inc. boosted their price objective on Stryker Corporation from $114.00 to $125.00 and gave the company a “sell” rating in a research report on Friday, June 9th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $144.03.

Stryker Corporation (SYK) traded down 0.59% during mid-day trading on Thursday, hitting $146.54. 265,684 shares of the stock were exchanged. Stryker Corporation has a one year low of $106.48 and a one year high of $148.84. The company has a 50-day moving average price of $144.29 and a 200-day moving average price of $136.16. The company has a market cap of $54.82 billion, a P/E ratio of 32.71 and a beta of 0.80.

Stryker Corporation (NYSE:SYK) last released its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. Stryker Corporation’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.39 earnings per share. On average, analysts predict that Stryker Corporation will post $6.50 earnings per share for the current fiscal year.

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In other news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $146.36, for a total transaction of $731,800.00. Following the transaction, the insider now owns 88,207 shares of the company’s stock, valued at $12,909,976.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David Floyd sold 19,305 shares of the company’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $144.56, for a total value of $2,790,730.80. The disclosure for this sale can be found here. In the last three months, insiders sold 32,810 shares of company stock worth $4,754,958. Insiders own 7.40% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Bollard Group LLC raised its position in shares of Stryker Corporation by 0.4% in the first quarter. Bollard Group LLC now owns 829 shares of the medical technology company’s stock valued at $109,000 after buying an additional 3 shares during the period. Acrospire Investment Management LLC purchased a new position in shares of Stryker Corporation during the second quarter valued at about $111,000. Motco raised its position in shares of Stryker Corporation by 50.7% in the second quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after buying an additional 278 shares during the period. Baystate Wealth Management LLC raised its position in shares of Stryker Corporation by 2.1% in the first quarter. Baystate Wealth Management LLC now owns 1,066 shares of the medical technology company’s stock valued at $139,000 after buying an additional 22 shares during the period. Finally, Bruderman Asset Management LLC purchased a new position in shares of Stryker Corporation during the second quarter valued at about $150,000. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Stryker Corporation Company Profile

Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.

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Analyst Recommendations for Stryker Corporation (NYSE:SYK)

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