Stryker (NYSE:SYK) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Stryker (NYSE:SYK) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

Several other analysts also recently issued reports on SYK. JMP Securities reissued a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Citigroup boosted their target price on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Robert W. Baird raised their price target on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Stifel Nicolaus raised their target price on shares of Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $416.40.

Stryker Trading Down 0.2 %

NYSE:SYK opened at $390.48 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The business’s 50-day simple moving average is $376.55 and its 200-day simple moving average is $362.18. Stryker has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The stock has a market capitalization of $148.86 billion, a PE ratio of 50.32, a price-to-earnings-growth ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.86%. During the same period last year, the company earned $3.46 EPS. Sell-side analysts expect that Stryker will post 13.53 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

Insider Activity at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 5.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Stryker

Institutional investors and hedge funds have recently modified their holdings of the business. Dunhill Financial LLC grew its position in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after buying an additional 37 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in Stryker during the third quarter worth about $36,000. Activest Wealth Management bought a new position in Stryker in the 4th quarter valued at about $36,000. Crews Bank & Trust acquired a new position in shares of Stryker in the 4th quarter valued at approximately $39,000. Finally, Hara Capital LLC bought a new stake in shares of Stryker during the 3rd quarter worth approximately $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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.