Stryker (NYSE:SYK) Hits New 52-Week Low – Here’s What Happened

Stryker Corporation (NYSE:SYKGet Free Report) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $327.27 and last traded at $328.4550, with a volume of 173290 shares changing hands. The stock had previously closed at $332.59.

More Stryker News

Here are the key news stories impacting Stryker this week:

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. BTIG Research lifted their price target on shares of Stryker from $410.00 to $412.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Raymond James Financial upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective for the company in a research note on Tuesday, January 6th. Piper Sandler reissued an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Finally, Sanford C. Bernstein raised their price target on Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a research note on Friday, January 9th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus target price of $427.50.

Get Our Latest Stock Analysis on Stryker

Stryker Trading Down 1.1%

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. The stock has a market capitalization of $125.93 billion, a price-to-earnings ratio of 39.17, a price-to-earnings-growth ratio of 1.96 and a beta of 0.85. The business has a fifty day moving average of $362.68 and a 200-day moving average of $365.29.

Stryker (NYSE:SYKGet Free Report) last released its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating the consensus estimate of $4.40 by $0.07. The business had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $4.01 earnings per share. On average, equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a $0.88 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.1%. Stryker’s dividend payout ratio (DPR) is 41.90%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction that occurred on 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 transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.20% of the stock is currently owned by insiders.

Institutional Trading of Stryker

Several hedge funds and other institutional investors have recently modified their holdings of SYK. Clayton Financial Group LLC acquired a new position in shares of Stryker in the 3rd quarter valued at about $26,000. Godfrey Financial Associates Inc. purchased a new stake in Stryker in the 4th quarter worth approximately $26,000. Sankala Group LLC acquired a new stake in shares of Stryker during the 4th quarter valued at $26,000. United Financial Planning Group LLC purchased a new position in shares of Stryker during the 3rd quarter valued at $27,000. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of Stryker during the fourth quarter worth $27,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Company Profile

(Get Free Report)

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.

Further Reading

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