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

Key Points

• Wall Street Zen downgraded Stryker (NYSE:SYK) from a "buy" to a "hold" rating in a research note issued on Saturday.
• Despite the downgrade, the consensus remains a Moderate Buy: 15 analysts rate the stock a Buy, six rate it a Hold, and the average price target is $421.11.
• Stryker recently beat quarterly estimates with $4.47 EPS versus $4.40 expected and reported revenue of $7.17 billion (up 11.4% year-over-year), indicating continued business momentum.

Stryker (NYSE:SYK - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

SYK has been the topic of a number of other reports. Evercore set a $390.00 price target on Stryker in a research note on Monday, January 5th. Leerink Partners assumed coverage on Stryker in a research note on Monday, April 13th. They set an "outperform" rating and a $410.00 price target on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Stryker in a research note on Monday, December 22nd. Raymond James Financial raised Stryker from a "market perform" rating to an "outperform" rating and set a $418.00 price target on the stock in a research note on Tuesday, January 6th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Stryker in a research note on Tuesday, January 27th. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Stryker currently has an average rating of "Moderate Buy" and an average price target of $421.11.

Stryker Stock Up 1.4%

Shares of Stryker stock opened at $343.09 on Friday. Stryker has a one year low of $319.32 and a one year high of $404.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. The stock's 50-day moving average is $352.97 and its 200 day moving average is $359.61. The firm has a market cap of $131.40 billion, a price-to-earnings ratio of 40.84, a PEG ratio of 1.98 and a beta of 0.92.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating the consensus estimate of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The company had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the prior year, the company earned $4.01 EPS. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts anticipate that Stryker will post 13.47 EPS for the current year.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, the director directly owned 2,457,331 shares of the company's stock, valued at $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.60% of the stock is currently owned by company insiders.

Institutional Trading of Stryker

Several institutional investors and hedge funds have recently modified their holdings of SYK. Norges Bank purchased a new stake in shares of Stryker in the fourth quarter worth approximately $1,822,272,000. Auto Owners Insurance Co grew its holdings in shares of Stryker by 35,047.0% in the fourth quarter. Auto Owners Insurance Co now owns 2,914,741 shares of the medical technology company's stock valued at $1,024,444,000 after acquiring an additional 2,906,448 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Stryker by 22.6% in the fourth quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company's stock valued at $2,282,192,000 after acquiring an additional 1,198,665 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company's stock valued at $887,525,000 after acquiring an additional 1,146,998 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Stryker by 13.3% in the third quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company's stock valued at $2,342,987,000 after acquiring an additional 741,542 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Company Profile

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.

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