Stryker (NYSE:SYK) Downgraded to Hold Rating by Wall Street Zen

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

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC upped their price target on shares of Stryker from $448.00 to $454.00 and gave the company a “buy” rating in a research report on Friday. Robert W. Baird set a $437.00 price objective on Stryker in a report on Friday. Truist Financial lowered their target price on Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Evercore ISI set a $390.00 price target on Stryker in a research report on Monday, January 5th. Finally, The Goldman Sachs Group set a $399.00 price target on Stryker in a research note on Friday, January 9th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.95.

Get Our Latest Stock Analysis on SYK

Stryker Price Performance

Shares of SYK opened at $369.39 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68. The stock has a market cap of $141.26 billion, a PE ratio of 43.97, a PEG ratio of 2.27 and a beta of 0.89. Stryker has a 12-month low of $329.16 and a 12-month high of $404.87. The business has a 50-day simple moving average of $359.40 and a two-hundred day simple moving average of $371.80.

Stryker (NYSE:SYKGet Free Report) last released its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.40 by $0.07. The company had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a return on equity of 24.73% and a net margin of 12.92%.The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business posted $4.01 earnings per share. Analysts anticipate that Stryker will post 13.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 276,173 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the transaction, the director directly owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. The trade was a 9.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the transaction, the chief accounting officer owned 2,833 shares in the company, valued at $1,035,433.17. The trade was a 40.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 522,118 shares of company stock worth $185,381,932. 5.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Stryker during the second quarter valued at about $26,000. Clayton Financial Group LLC acquired a new stake in shares of Stryker in the 3rd quarter valued at about $26,000. United Financial Planning Group LLC bought a new stake in Stryker in the 3rd quarter valued at about $27,000. Elevation Point Wealth Partners LLC acquired a new position in Stryker during the 2nd quarter worth approximately $28,000. Finally, Sachetta LLC boosted its holdings in Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 27 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker News Summary

Here are the key news stories impacting Stryker this week:

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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