Stryker (NYSE:SYK) Shares Down 4.9% – Here’s Why

Stryker Corporation (NYSE:SYK) was down 4.9% on Tuesday . The stock traded as low as $312.45 and last traded at $314.2130. 601,073 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 2,337,239 shares. The stock had previously closed at $330.52.

Wall Street Analyst Weigh In

SYK has been the topic of several research analyst reports. William Blair reaffirmed an “outperform” rating on shares of Stryker in a research report on Thursday, March 5th. Needham & Company LLC lowered their target price on shares of Stryker from $454.00 to $418.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Truist Financial restated a “hold” rating and issued a $330.00 price target (down from $380.00) on shares of Stryker in a report on Monday, May 4th. Evercore set a $355.00 price objective on shares of Stryker in a report on Friday, May 1st. Finally, Leerink Partners dropped their target price on shares of Stryker from $410.00 to $407.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Sixteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $395.33.

Stryker Trading Down 5.3%

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.25 and a current ratio of 2.11. The company has a market capitalization of $119.96 billion, a P/E ratio of 36.19, a PEG ratio of 2.13 and a beta of 0.78. The company’s fifty day simple moving average is $310.95 and its 200-day simple moving average is $339.70.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.38). The business had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.34 billion. Stryker had a return on equity of 23.42% and a net margin of 13.20%.Stryker’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.84 EPS. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. Research analysts predict that Stryker Corporation will post 14.98 earnings per share for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Stryker’s payout ratio is presently 40.74%.

Insider Activity at Stryker

In other Stryker news, VP Robert S. Fletcher sold 4,544 shares of Stryker stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $306.87, for a total value of $1,394,417.28. Following the transaction, the vice president owned 10,582 shares in the company, valued at $3,247,298.34. The trade was a 30.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP M Kathryn Fink sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $283.45, for a total value of $992,075.00. Following the completion of the sale, the vice president owned 177 shares of the company’s stock, valued at $50,170.65. This trade represents a 95.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 323,264 shares of company stock valued at $100,659,489 over the last quarter. 4.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Stryker

A number of hedge funds have recently modified their holdings of SYK. Godfrey Financial Associates Inc. acquired a new stake in Stryker during the 4th quarter worth $26,000. Sankala Group LLC purchased a new stake in shares of Stryker in the fourth quarter valued at about $26,000. United Financial Planning Group LLC acquired a new stake in shares of Stryker during the third quarter worth about $27,000. Atlas Capital Advisors Inc. acquired a new position in Stryker in the 4th quarter valued at about $27,000. Finally, DJE Kapital AG purchased a new stake in Stryker during the 4th quarter valued at approximately $28,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.