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

Stryker (NYSE:SYK - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Friday.

Several other analysts also recently weighed in on the stock. Evercore ISI lifted their target price on shares of Stryker from $380.00 to $384.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Canaccord Genuity Group raised their price target on shares of Stryker from $360.00 to $400.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Truist Financial raised their price target on shares of Stryker from $370.00 to $380.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. Needham & Company LLC raised their price target on shares of Stryker from $393.00 to $409.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Stryker from $375.00 to $420.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $393.65.

Stryker Trading Down 1.4 %

Shares of NYSE SYK traded down $5.29 during midday trading on Friday, reaching $384.85. 1,069,678 shares of the stock were exchanged, compared to its average volume of 1,269,104. The company has a 50 day simple moving average of $365.91 and a 200 day simple moving average of $348.95. The stock has a market capitalization of $146.71 billion, a P/E ratio of 41.79, a PEG ratio of 2.93 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker has a twelve month low of $285.79 and a twelve month high of $398.20.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter last year, the firm earned $2.46 EPS. The firm's revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities analysts expect that Stryker will post 12.06 earnings per share for the current year.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 600 shares of the business's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the sale, the insider now owns 9,069 shares of the company's stock, valued at approximately $3,219,495. The trade was a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP M Kathryn Fink sold 2,121 shares of the business's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 17.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,381 shares of company stock worth $24,825,275 over the last ninety days. 5.90% of the stock is currently owned by company insiders.

Institutional Trading of Stryker

A number of institutional investors have recently added to or reduced their stakes in the stock. Avestar Capital LLC lifted its holdings in shares of Stryker by 1.1% in the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company's stock valued at $1,065,000 after purchasing an additional 31 shares in the last quarter. Patrick M Sweeney & Associates Inc. lifted its stake in shares of Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company's stock valued at $793,000 after buying an additional 32 shares during the period. Versant Capital Management Inc lifted its stake in shares of Stryker by 4.0% during the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company's stock valued at $294,000 after buying an additional 33 shares during the period. Stanley Laman Group Ltd. lifted its stake in shares of Stryker by 4.6% during the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company's stock valued at $256,000 after buying an additional 33 shares during the period. Finally, Plimoth Trust Co. LLC lifted its stake in shares of Stryker by 0.3% during the second quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company's stock valued at $3,224,000 after buying an additional 33 shares during the period. Hedge funds and other institutional investors 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.