Stryker (NYSE:SYK) Given Hold Rating at Truist Financial

Stryker (NYSE:SYK)‘s stock had its “hold” rating reiterated by equities researchers at Truist Financial in a report released on Monday, Benzinga reports. They presently have a $305.00 target price on the medical technology company’s stock, down from their prior target price of $310.00. Truist Financial‘s price objective suggests a potential upside of 0.13% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Johnson Rice cut shares of Stryker to a “hold” rating in a research note on Friday. Citigroup reaffirmed a “market outperform” rating on shares of Stryker in a report on Friday. Evercore set a $350.00 target price on shares of Stryker in a research report on Monday, July 6th. Royal Bank Of Canada decreased their price target on shares of Stryker from $420.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Raymond James Financial restated an “outperform” rating and set a $323.00 price target on shares of Stryker in a research report on Friday. Sixteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $355.04.

Stryker Price Performance

Shares of NYSE SYK traded up $12.75 during midday trading on Monday, hitting $304.61. The stock had a trading volume of 1,117,060 shares, compared to its average volume of 2,466,274. The company has a quick ratio of 1.30, a current ratio of 2.18 and a debt-to-equity ratio of 0.60. The stock has a 50 day simple moving average of $292.83 and a 200-day simple moving average of $324.51. The company has a market capitalization of $116.84 billion, a PE ratio of 32.40, a P/E/G ratio of 1.89 and a beta of 0.78. Stryker has a 1 year low of $267.00 and a 1 year high of $389.33.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 29th. The medical technology company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.55 by ($0.03). Stryker had a return on equity of 23.74% and a net margin of 13.78%. The firm had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the previous year, the firm posted $3.19 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, sell-side analysts expect that Stryker will post 14.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Stryker news, insider Debra King sold 826 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total value of $277,783.80. Following the transaction, the insider directly owned 6,210 shares in the company, valued at $2,088,423. The trade was a 11.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Dylan Crotty sold 441 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $328.61, for a total transaction of $144,917.01. Following the completion of the transaction, the insider owned 6,102 shares in the company, valued at $2,005,178.22. The trade was a 6.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 351,267 shares of company stock valued at $118,197,701 over the last ninety days. Company insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp increased its position in shares of Stryker by 1.2% during the 2nd quarter. State Street Corp now owns 15,532,565 shares of the medical technology company’s stock worth $4,903,772,000 after purchasing an additional 183,400 shares during the last quarter. Wellington Management Group LLP lifted its position in Stryker by 0.6% in the second quarter. Wellington Management Group LLP now owns 8,167,185 shares of the medical technology company’s stock valued at $2,571,357,000 after buying an additional 45,478 shares during the last quarter. Bank of America Corp DE acquired a new position in Stryker in the second quarter valued at about $1,404,284,000. Royal Bank of Canada boosted its stake in Stryker by 6.5% during the first quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company’s stock worth $1,075,552,000 after buying an additional 199,863 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Stryker by 21.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,689,376 shares of the medical technology company’s stock worth $846,723,000 after buying an additional 481,175 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker News Summary

Here are the key news stories impacting Stryker this week:

• Positive Sentiment: JPMorgan lowered its price target from $350 to $340 but maintained an “overweight” rating, implying roughly 13.6% upside from the referenced price. The continued bullish rating suggests confidence in Stryker’s longer-term growth prospects. JPMorgan Stryker price-target update
• Positive Sentiment: Barclays reaffirmed its Buy rating, providing some support against the broader wave of target reductions. Barclays reaffirms Buy rating on Stryker

About Stryker

Stryker Corporation (NYSE: SYK) is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company’s product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.