Stryker (NYSE:SYK) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Stryker (NYSE:SYK) from a buy rating to a hold rating in a research note released on Friday morning.

Other analysts have also recently issued reports about the stock. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research note on Monday, May 5th. Needham & Company LLC reiterated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research note on Friday, March 21st. BTIG Research set a $403.00 price objective on shares of Stryker and gave the company a “buy” rating in a report on Monday, April 14th. JMP Securities reissued a “market perform” rating on shares of Stryker in a research report on Monday, May 5th. Finally, Roth Mkm raised their target price on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $427.30.

Stryker Stock Up 0.8%

Stryker stock opened at $393.70 on Friday. Stryker has a 1-year low of $314.93 and a 1-year high of $406.19. The business has a fifty day moving average price of $379.01 and a 200-day moving average price of $375.45. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. The stock has a market capitalization of $150.27 billion, a price-to-earnings ratio of 53.20, a PEG ratio of 2.97 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share 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 business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter last year, the company earned $2.50 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. Equities research analysts forecast that Stryker will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s dividend payout ratio is currently 45.41%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.90% of the stock is owned by company insiders.

Institutional Trading of Stryker

Institutional investors have recently bought and sold shares of the business. Elefante Mark B acquired a new stake in Stryker in the 4th quarter valued at $337,000. Mogy Joel R Investment Counsel Inc. lifted its holdings in Stryker by 3.4% during the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company’s stock valued at $36,561,000 after purchasing an additional 3,218 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its position in shares of Stryker by 1.9% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company’s stock valued at $65,096,000 after purchasing an additional 3,341 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Stryker during the first quarter worth about $1,840,000. Finally, Metis Global Partners LLC raised its position in shares of 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.

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.