Stryker’s (SYK) “Hold” Rating Reiterated at Truist Financial

Truist Financial reissued their hold rating on shares of Stryker (NYSE:SYK) in a research report sent to investors on Monday morning,Benzinga reports. Truist Financial currently has a $305.00 price objective on the medical technology company’s stock, down from their previous price objective of $310.00.

SYK has been the topic of several other reports. Citigroup reissued a “market outperform” rating on shares of Stryker in a report on Friday, October 30th. Stifel Nicolaus reduced their price target on Stryker from $330.00 to $325.00 and set a “buy” rating for the company in a report on Monday. Piper Sandler reduced their price target on Stryker from $420.00 to $390.00 and set an “overweight” rating for the company in a report on Friday, July 31st. BTIG Research lowered their price target on Stryker from $316.00 to $304.00 and set a “buy” rating for the company in a research report on Friday, October 30th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $323.00 price target (down from $370.00) on shares of Stryker in a research note on Friday, October 30th. Twenty-one analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $343.73.

Stryker Price Performance

SYK stock opened at $340.39 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 2.18. The firm has a 50 day moving average price of $292.21 and a 200-day moving average price of $323.91. Stryker has a 52-week low of $267.00 and a 52-week high of $389.33. The firm has a market capitalization of $129.59 billion, a price-to-earnings ratio of 36.25, a PEG ratio of 2.13 and a beta of 0.78.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, October 29th. The medical technology company reported $3.52 earnings per share 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 company had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the previous year, the company earned $3.19 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts forecast that Stryker will post 14.85 EPS for the current fiscal year.

Insider Buying and Selling at Stryker

In other Stryker news, insider Debra King sold 826 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total transaction of $277,783.80. Following the sale, the insider directly owned 6,210 shares in the company, valued at approximately $2,088,423. This trade represents a 11.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronda Stryker sold 50,000 shares of Stryker stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $340.10, for a total value of $17,005,000.00. Following the completion of the sale, the director directly owned 2,251,375 shares of the company’s stock, valued at approximately $765,692,637.50. The trade was a 2.17% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 351,267 shares of company stock worth $118,197,701. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Stryker

Several institutional investors have recently modified their holdings of SYK. Gables Capital Management Inc. purchased a new stake in Stryker in the second quarter worth $25,000. Kilter Group LLC purchased a new stake in shares of Stryker during the second quarter valued at $25,000. Highland Investment Advisors LLC purchased a new stake in shares of Stryker during the second quarter valued at $25,000. Cornerstone Financial Management LLC boosted its stake in shares of Stryker by 66.0% during the second quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock valued at $25,000 after purchasing an additional 31 shares during the period. Finally, Compass Financial Management LLC bought a new position in shares of Stryker in the second quarter worth about $27,000. 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 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.