Wall Street Zen Downgrades Stryker (NYSE:SYK) to Hold

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

Other equities research analysts also recently issued reports about the company. JMP Securities restated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Truist Financial increased their price objective on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a report on Monday, May 5th. Evercore ISI decreased their price objective on Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Roth Mkm increased their price objective on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Citigroup reiterated a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Stryker has an average rating of "Moderate Buy" and a consensus price target of $427.30.

Stryker Trading Up 0.8%

NYSE:SYK traded up $3.30 during mid-day trading on Friday, hitting $393.70. The company had a trading volume of 2,216,556 shares, compared to its average volume of 1,346,944. Stryker has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The business's fifty day moving average is $379.01 and its two-hundred day moving average is $375.45. The firm has a market cap of $150.27 billion, a P/E ratio of 53.20, a P/E/G ratio of 2.94 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the prior year, the company earned $2.50 earnings per share. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, research analysts expect that Stryker will post 13.47 earnings per share for the current year.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the sale, the director now directly owns 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 5.90% of the company's stock.

Institutional Trading of Stryker

A number of hedge funds have recently made changes to their positions in the business. Elefante Mark B acquired a new stake in Stryker during the 4th quarter worth approximately $337,000. Mogy Joel R Investment Counsel Inc. lifted its holdings in Stryker by 3.4% during the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock worth $36,561,000 after purchasing an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its holdings in Stryker by 1.9% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock worth $65,096,000 after purchasing an additional 3,341 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Stryker during the 1st quarter worth approximately $1,840,000. Finally, Metis Global Partners LLC lifted its holdings in Stryker by 10.2% during the 4th quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock worth $6,064,000 after purchasing an additional 1,561 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

About Stryker

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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