Stryker (SYK) Downgraded by Zacks Investment Research to Sell

Stryker (NYSE:SYK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

According to Zacks, “Despite trading above the broader industry in the last year, Stryker has been grappling with supply side issues in its spine business since long. Adding to our concerns, Stryker announced the voluntary product recall of the Oral Care lineup. The recall is likely to adversely impact the company’s sales and operating income. Moreover, volatility in foreign currency exchange is likely to impede Stryker’s growth in the coming quarters. On a brighter note, solid performance in the MAKO platform has been boosting Stryker’s revenues since long. An upbeat guidance for the full year instills investor confidence on the stock. Stryker’s acquisition-driven strategy is expected to expand existing product offerings across all business segments. Continued strong demand for hemorrhagic and ischemic stroke products and neuro-powered instruments are also likely to boost sales in the neurotechnology segment.”

Other analysts have also recently issued research reports about the stock. Wells Fargo & Co raised their price objective on shares of Stryker from $160.00 to $166.00 in a research report on Friday, October 27th. Canaccord Genuity raised their price objective on shares of Stryker from $155.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Stifel Nicolaus raised their price objective on shares of Stryker from $158.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Cowen set a $166.00 price objective on shares of Stryker and gave the company a “buy” rating in a research report on Sunday, October 29th. Finally, Royal Bank of Canada restated a “buy” rating and set a $155.00 price objective on shares of Stryker in a research report on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. Stryker has an average rating of “Hold” and an average target price of $156.60.

Stryker (NYSE:SYK) traded up $1.00 during trading on Friday, hitting $161.28. 1,191,723 shares of the stock traded hands, compared to its average volume of 1,090,000. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.61 and a current ratio of 2.37. The stock has a market cap of $60,360.00, a PE ratio of 34.39, a P/E/G ratio of 2.30 and a beta of 0.78. Stryker has a 12-month low of $119.17 and a 12-month high of $164.20.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.02. The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Stryker had a net margin of 14.67% and a return on equity of 24.11%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $1.39 EPS. equities research analysts forecast that Stryker will post 6.49 EPS for the current year.

In other Stryker news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $155.34, for a total value of $776,700.00. Following the transaction, the insider now owns 83,207 shares in the company, valued at $12,925,375.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.40% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. increased its position in shares of Stryker by 3.7% in the second quarter. Coldstream Capital Management Inc. now owns 17,445 shares of the medical technology company’s stock valued at $2,421,000 after acquiring an additional 626 shares during the period. Retirement Systems of Alabama increased its position in shares of Stryker by 2.5% in the third quarter. Retirement Systems of Alabama now owns 234,870 shares of the medical technology company’s stock valued at $33,356,000 after acquiring an additional 5,656 shares during the period. Toronto Dominion Bank increased its position in shares of Stryker by 25.8% in the second quarter. Toronto Dominion Bank now owns 105,403 shares of the medical technology company’s stock valued at $14,625,000 after acquiring an additional 21,585 shares during the period. Colonial Trust Advisors increased its position in shares of Stryker by 56.1% in the second quarter. Colonial Trust Advisors now owns 23,446 shares of the medical technology company’s stock valued at $3,254,000 after acquiring an additional 8,426 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. increased its position in shares of Stryker by 3.1% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 55,255 shares of the medical technology company’s stock valued at $7,847,000 after acquiring an additional 1,683 shares during the period. Hedge funds and other institutional investors own 74.88% of the company’s stock.

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Stryker Company Profile

Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.

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