Stryker (NYSE:SYK) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Stryker (NYSE:SYK) from a buy rating to a hold rating in a report published on Saturday morning.

A number of other equities analysts have also issued reports on SYK. Truist Financial increased their price target on Stryker from $392.00 to $400.00 and gave the company a “hold” rating in a research note on Friday, November 14th. BTIG Research restated a “buy” rating and issued a $410.00 price objective on shares of Stryker in a report on Friday, November 14th. Citigroup lowered their target price on Stryker from $455.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $435.00 price target on shares of Stryker in a research report on Friday, November 14th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 8th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $431.83.

Stryker Stock Up 0.4%

Stryker stock opened at $355.34 on Friday. Stryker has a 52 week low of $329.16 and a 52 week high of $406.19. The stock has a market cap of $135.89 billion, a price-to-earnings ratio of 46.69, a PEG ratio of 2.51 and a beta of 0.89. The company’s 50-day moving average price is $366.60 and its two-hundred day moving average price is $378.26. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 30th. The medical technology company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The company had revenue of $6.06 billion during the quarter, compared to analyst estimates of $6.04 billion. During the same period in the prior year, the business posted $2.87 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. On average, analysts expect that Stryker will post 13.47 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio is 44.15%.

Insider Buying and Selling at Stryker

In other news, CAO William E. Berry, Jr. sold 1,953 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the transaction, the chief accounting officer owned 2,833 shares in the company, valued at $1,035,433.17. This represents a 40.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the completion of the sale, the director directly owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. This trade represents a 9.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 522,118 shares of company stock valued at $185,381,932 in the last 90 days. 5.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Stryker

Several hedge funds and other institutional investors have recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Stryker by 15.4% during the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after buying an additional 609 shares during the last quarter. Vestmark Advisory Solutions Inc. raised its position in Stryker by 136.6% during the first quarter. Vestmark Advisory Solutions Inc. now owns 4,304 shares of the medical technology company’s stock valued at $1,602,000 after acquiring an additional 2,485 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its stake in Stryker by 47.9% in the first quarter. Kovitz Investment Group Partners LLC now owns 11,948 shares of the medical technology company’s stock valued at $4,448,000 after acquiring an additional 3,871 shares during the last quarter. Horizon Investments LLC grew its position in Stryker by 7.0% in the first quarter. Horizon Investments LLC now owns 8,294 shares of the medical technology company’s stock worth $3,087,000 after acquiring an additional 542 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Stryker by 19.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,756 shares of the medical technology company’s stock worth $654,000 after purchasing an additional 287 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

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.