Stryker (NYSE:SYK) Stock Breaks Below 200-Day Moving Average – Here’s What Happened

Stryker Corporation (NYSE:SYK)’s stock price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $323.05 and traded as low as $315.37. Stryker shares last traded at $318.6710, with a volume of 3,215,322 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SYK shares. Wells Fargo & Company decreased their price objective on Stryker from $418.00 to $348.00 and set an “overweight” rating for the company in a research report on Wednesday, September 9th. Wall Street Zen lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. TD Cowen cut their price target on shares of Stryker from $298.00 to $290.00 and set a “hold” rating on the stock in a research note on Friday, October 30th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Stryker in a report on Wednesday, October 7th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $309.00 target price (down from $317.00) on shares of Stryker in a report on Friday, October 30th. Twenty-one investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $342.19.

Stryker Stock Down 1.1%

The company has a current ratio of 2.18, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $117.65 billion, a P/E ratio of 32.91, a PEG ratio of 2.19 and a beta of 0.78. The firm’s 50 day moving average price is $292.30 and its two-hundred day moving average price is $322.60.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, October 29th. The medical technology company reported $3.52 EPS for the quarter, missing analysts’ consensus estimates of $3.55 by ($0.03). Stryker had a return on equity of 23.74% and a net margin of 13.78%. The business had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the prior year, the firm earned $3.19 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts forecast that Stryker Corporation will post 14.85 EPS for the current year.

Insiders Place Their Bets

In other Stryker news, insider Debra King sold 826 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total transaction of $277,783.80. Following the sale, the insider directly owned 6,210 shares of the company’s stock, valued at $2,088,423. The trade was a 11.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Dylan Crotty sold 441 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $328.61, for a total value of $144,917.01. Following the transaction, the insider directly owned 6,102 shares of the company’s stock, valued at $2,005,178.22. This trade represents a 6.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 901,267 shares of company stock valued at $297,123,701 in the last three months. 4.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Stryker

Several large investors have recently made changes to their positions in the stock. Bank of America Corp DE acquired a new position in shares of Stryker during the 2nd quarter worth about $1,404,284,000. Legal & General Group Plc bought a new stake in shares of Stryker in the 2nd quarter valued at about $707,212,000. Jupiter Topco LLC acquired a new stake in Stryker in the 2nd quarter valued at about $681,581,000. Corient Private Wealth LP acquired a new stake in Stryker in the 2nd quarter valued at about $323,035,000. Finally, Flossbach Von Storch SE bought a new position in Stryker during the second quarter worth about $464,506,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Company Profile

Stryker is a medical technology company that develops and sells products and services for healthcare providers. Its offerings include orthopedic implants and surgical equipment, neurotechnology and spine products, and medical and surgical equipment used in hospitals and other care settings. The company’s products also include patient-handling and emergency medical equipment, as well as instruments and technologies that support surgical procedures. Stryker serves healthcare customers in the United States and internationally.