Stryker (NYSE:SYK) Stock Price Down 4.2% - Here's Why

Key Points

• Stryker Corporation's stock price dropped by 4.2%, closing at $354.28, with trading volume down 65% compared to its average.
• Analysts have given Stryker an average rating of "Moderate Buy" with a price target of around $430.33, while several have issued upgrades and others have downgraded the stock to "hold."
• The company declared a quarterly dividend of $0.84 per share, with a dividend yield of 0.9%, set to be paid out on October 31st.

Stryker Corporation (NYSE:SYK - Get Free Report)'s stock price traded down 4.2% during trading on Wednesday . The company traded as low as $357.16 and last traded at $354.28. 491,011 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 1,394,869 shares. The stock had previously closed at $369.67.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Truist Financial set a $415.00 price objective on Stryker and gave the company a "hold" rating in a research note on Monday, August 4th. Redburn Partners set a $420.00 price target on Stryker in a research report on Thursday, September 18th. Rothschild & Co Redburn assumed coverage on shares of Stryker in a report on Thursday, September 18th. They issued a "neutral" rating and a $420.00 price objective for the company. Wells Fargo & Company increased their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Wall Street Zen lowered shares of Stryker from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $430.33.

Stryker Stock Down 2.2%

The stock has a market cap of $138.28 billion, a P/E ratio of 47.84, a price-to-earnings-growth ratio of 2.67 and a beta of 0.93. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The stock's 50-day moving average is $384.81 and its 200-day moving average is $379.11.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.Stryker's revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's dividend payout ratio (DPR) is currently 44.50%.

Insider Activity at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares in the company, valued at $4,886,921.71. This represents a 3.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the transaction, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SYK. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Stryker during the 2nd quarter worth about $26,000. Elevation Point Wealth Partners LLC bought a new stake in Stryker during the second quarter worth approximately $28,000. Sachetta LLC grew its holdings in Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company's stock valued at $29,000 after purchasing an additional 27 shares during the last quarter. Kilter Group LLC bought a new position in shares of Stryker in the second quarter valued at approximately $29,000. Finally, Howard Hughes Medical Institute acquired a new stake in shares of Stryker in the second quarter worth $29,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Company Profile

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.

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