Stryker (NYSE:SYK) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Stryker (NYSE:SYK) from a buy rating to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

Several other research firms have also commented on SYK. Truist Financial raised their price objective on shares of Stryker from $330.00 to $340.00 and gave the company a “hold” rating in a research note on Friday, July 31st. Raymond James Financial set a $370.00 target price on shares of Stryker in a research note on Friday, July 31st. Piper Sandler reduced their target price on shares of Stryker from $420.00 to $390.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Wolfe Research cut shares of Stryker from an “outperform” rating to a “peer perform” rating in a research report on Thursday, August 13th. Finally, Evercore set a $350.00 price target on shares of Stryker in a research note on Monday, July 6th. Nineteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $372.64.

Stryker Stock Up 3.7%

NYSE:SYK opened at $285.52 on Friday. Stryker has a 52 week low of $267.00 and a 52 week high of $392.55. The stock’s fifty day moving average is $309.73 and its two-hundred day moving average is $315.95. The stock has a market capitalization of $109.52 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 1.74 and a beta of 0.78. The company has a quick ratio of 1.33, a current ratio of 2.16 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 30th. The medical technology company reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.20. The business had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.58 billion. Stryker had a return on equity of 23.63% and a net margin of 14.43%.The company’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.13 earnings per share. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Research analysts anticipate that Stryker will post 14.97 EPS for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.52 dividend on an annualized basis and a yield of 1.2%. Stryker’s payout ratio is currently 36.48%.

Insiders Place Their Bets

In other Stryker news, insider Debra King sold 826 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total value of $277,783.80. Following the sale, the insider directly owned 6,210 shares of the company’s stock, valued at approximately $2,088,423. This represents a 11.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ronda Stryker sold 300,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $335.90, for a total transaction of $100,770,000.00. Following the completion of the sale, the director owned 2,301,375 shares in the company, valued at $773,031,862.50. The trade was a 11.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 351,267 shares of company stock worth $118,197,701 in the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Stryker

A number of institutional investors have recently bought and sold shares of SYK. Bank of America Corp DE purchased a new stake in shares of Stryker during the 2nd quarter worth approximately $1,404,284,000. Auto Owners Insurance Co grew its position in shares of Stryker by 35,047.0% in the 4th quarter. Auto Owners Insurance Co now owns 2,914,741 shares of the medical technology company’s stock valued at $1,024,444,000 after buying an additional 2,906,448 shares during the last quarter. Legal & General Group Plc acquired a new stake in Stryker during the 2nd quarter worth $707,212,000. Jupiter Topco LLC acquired a new stake in Stryker during the 2nd quarter worth $681,581,000. Finally, Corient Private Wealth LP purchased a new stake in Stryker in the second quarter valued at $323,035,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Company Profile

Stryker Corporation (NYSE: SYK) is a global medical technology company that develops and manufactures products used in hospitals, surgical centers and other healthcare settings. Founded in 1941 by Dr. Homer Stryker in Kalamazoo, Michigan, the company has grown from an orthopedic device business into a diversified provider of medical technologies.

Stryker’s product portfolio includes orthopedic implants and instruments, surgical equipment, neurovascular devices, spine products, patient-handling and emergency-care equipment, operating-room systems, and digital and robotic technologies.