Stryker (NYSE:SYK) Cut to “Hold” at Wall Street Zen
by Renee Jackson · The Cerbat GemWall Street Zen downgraded shares of Stryker (NYSE:SYK – Free Report) from a buy rating to a hold rating in a report published on Saturday.
A number of other brokerages also recently issued reports on SYK. Barclays reissued an “overweight” rating and set a $469.00 price objective on shares of Stryker in a research report on Monday, February 2nd. Jefferies Financial Group reissued a “buy” rating and set a $465.00 price objective on shares of Stryker in a research report on Wednesday, March 4th. Citigroup reduced their price objective on shares of Stryker from $420.00 to $385.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Leerink Partners started coverage on shares of Stryker in a research report on Monday, April 13th. They set an “outperform” rating and a $410.00 price objective on the stock. Finally, Raymond James Financial raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective on the stock in a research report on Tuesday, January 6th. Fifteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $421.11.
Read Our Latest Research Report on SYK
Stryker Trading Down 1.5%
NYSE:SYK opened at $338.15 on Friday. The company has a fifty day moving average of $352.61 and a 200 day moving average of $359.31. Stryker has a 52 week low of $319.32 and a 52 week high of $404.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $129.50 billion, a P/E ratio of 40.26, a P/E/G ratio of 2.01 and a beta of 0.92.
Stryker (NYSE:SYK – Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. The business had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.01 EPS. On average, research analysts predict that Stryker will post 14.92 earnings per share for the current year.
Stryker Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. Stryker’s dividend payout ratio is currently 41.90%.
Insider Buying and Selling at Stryker
In other news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the sale, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This represents a 9.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.60% of the stock is owned by corporate insiders.
Institutional Trading of Stryker
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC grew its position in 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 purchasing an additional 609 shares during the last quarter. Schnieders Capital Management LLC. purchased a new stake in Stryker during the 2nd quarter valued at about $205,000. Marshall Wace LLP grew its position in Stryker by 107.9% during the 2nd quarter. Marshall Wace LLP now owns 5,700 shares of the medical technology company’s stock valued at $2,255,000 after purchasing an additional 77,831 shares during the last quarter. Nebula Research & Development LLC purchased a new stake in Stryker during the 2nd quarter valued at about $219,000. Finally, HUB Investment Partners LLC purchased a new stake in Stryker during the 2nd quarter valued at about $253,000. 77.09% of the stock is 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.