Truist Financial Reaffirms Hold Rating for Stryker (NYSE:SYK)

Key Points

• Truist Financial reaffirmed its Hold rating on Stryker while lowering its price target from $310 to $305, implying only about 0.13% upside from the prior close.
• Analyst sentiment has become more cautious: several firms cut price targets or downgraded the stock, though Stryker still carries a consensus “Moderate Buy” rating with an average target of $355.04.
• Stryker’s latest quarterly results fell slightly short of estimates, with $3.52 in adjusted EPS and $6.52 billion in revenue, despite 7.6% year-over-year revenue growth. Shares traded at $304.61, while insiders sold roughly $118.2 million of stock over the past 90 days.

Stryker (NYSE:SYK - Get Free Report)'s stock had its "hold" rating reissued by analysts at Truist Financial in a note issued to investors on Monday, Benzinga reports. They presently have a $305.00 target price on the medical technology company's stock, down from their previous target price of $310.00. Truist Financial's price objective suggests a potential upside of 0.13% from the company's previous close.

Several other research analysts have also recently issued reports on SYK. Stifel Nicolaus reduced their target price on shares of Stryker from $330.00 to $325.00 and set a "buy" rating for the company in a report on Monday. TD Cowen lowered their price target on shares of Stryker from $298.00 to $290.00 and set a "hold" rating on the stock in a report on Friday. Canaccord Genuity Group downgraded Stryker from a "buy" rating to a "hold" rating and cut their price target for the stock from $385.00 to $300.00 in a research report on Friday. Johnson Rice downgraded Stryker to a "hold" rating in a research report on Friday. Finally, BTIG Research reduced their price objective on Stryker from $316.00 to $304.00 and set a "buy" rating for the company in a research note on Friday. Sixteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and an average target price of $355.04.

Stryker Stock Performance

Shares of Stryker stock traded up $12.75 on Monday, reaching $304.61. 1,117,060 shares of the stock were exchanged, compared to its average volume of 2,466,274. The business has a 50 day moving average price of $292.83 and a two-hundred day moving average price of $324.51. The firm has a market capitalization of $116.84 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 1.89 and a beta of 0.78. Stryker has a twelve month low of $267.00 and a twelve month high of $389.33. The company has a quick ratio of 1.30, a current ratio of 2.18 and a debt-to-equity ratio of 0.60.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The medical technology company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.55 by ($0.03). Stryker had a return on equity of 23.74% and a net margin of 13.78%. The business had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same quarter last year, the company posted $3.19 EPS. Stryker's quarterly revenue was up 7.6% compared to the same quarter last year. Analysts anticipate that Stryker will post 14.85 earnings per share for the current fiscal year.

Insider Activity at Stryker

In related news, insider Debra King sold 826 shares of the company's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total value of $277,783.80. Following the completion of the transaction, the insider owned 6,210 shares of the company's stock, valued at approximately $2,088,423. This represents a 11.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronda Stryker sold 300,000 shares of the company's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $335.90, for a total value of $100,770,000.00. Following the completion of the transaction, the director directly owned 2,301,375 shares of the company's stock, valued at $773,031,862.50. The trade was a 11.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 351,267 shares of company stock worth $118,197,701 in the last 90 days. Corporate insiders own 4.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Community Bank & Trust Waco Texas raised its position in Stryker by 2.3% during the second quarter. Community Bank & Trust Waco Texas now owns 1,395 shares of the medical technology company's stock worth $439,000 after acquiring an additional 31 shares during the period. Cornerstone Financial Management LLC grew its position in shares of Stryker by 66.0% in the second quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company's stock valued at $25,000 after purchasing an additional 31 shares during the period. NWF Advisory Services Inc. grew its position in shares of Stryker by 2.3% in the second quarter. NWF Advisory Services Inc. now owns 1,472 shares of the medical technology company's stock valued at $463,000 after purchasing an additional 33 shares during the period. Harold Davidson & Associates Inc. increased its stake in shares of Stryker by 0.4% during the first quarter. Harold Davidson & Associates Inc. now owns 8,668 shares of the medical technology company's stock worth $2,848,000 after purchasing an additional 34 shares in the last quarter. Finally, Private Harbour Investment Management & Counsel LLC increased its stake in shares of Stryker by 0.9% during the second quarter. Private Harbour Investment Management & Counsel LLC now owns 3,927 shares of the medical technology company's stock worth $1,236,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

More Stryker News

Here are the key news stories impacting Stryker this week:

• Positive Sentiment: JPMorgan lowered its price target from $350 to $340 but maintained an “overweight” rating, implying roughly 13.6% upside from the referenced price. The continued bullish rating suggests confidence in Stryker’s longer-term growth prospects. JPMorgan Stryker price-target update
• Positive Sentiment: Barclays reaffirmed its Buy rating, providing some support against the broader wave of target reductions. Barclays reaffirms Buy rating on Stryker

Stryker Company Profile

Stryker Corporation NYSE: SYK is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company's product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.