Stryker (NYSE:SYK) Sets New 52-Week Low – Here’s Why

Stryker Corporation (NYSE:SYK) shares hit a new 52-week low on Monday . The stock traded as low as $324.48 and last traded at $327.4670, with a volume of 516756 shares traded. The stock had previously closed at $327.44.

Analyst Ratings Changes

A number of equities analysts recently commented on SYK shares. Piper Sandler reissued an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. Needham & Company LLC increased their target price on Stryker from $448.00 to $454.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Evercore set a $390.00 price target on Stryker in a report on Monday, January 5th. The Goldman Sachs Group set a $399.00 price objective on Stryker in a research note on Friday, January 9th. Finally, Truist Financial dropped their price objective on Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research report on Thursday, December 18th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $427.50.

Stryker Price Performance

The company has a market cap of $125.10 billion, a PE ratio of 38.88, a PEG ratio of 1.91 and a beta of 0.85. 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’s 50-day moving average is $360.17 and its 200 day moving average is $363.56.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. The business had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $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 firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a $0.88 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a yield of 1.1%. Stryker’s dividend payout ratio (DPR) is 41.90%.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the sale, the director owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.20% of the company’s stock.

Institutional Trading of Stryker

A number of institutional investors have recently bought and sold shares of SYK. Brighton Jones LLC grew its holdings in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after buying an additional 609 shares during the last quarter. Schnieders Capital Management LLC. acquired a new stake in Stryker during the 2nd quarter worth about $205,000. Elevation Point Wealth Partners LLC purchased a new stake in Stryker during the 2nd quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. grew its stake in Stryker by 3.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,420 shares of the medical technology company’s stock valued at $21,530,000 after purchasing an additional 1,564 shares during the last quarter. Finally, Capital Fund Management S.A. acquired a new position in shares of Stryker in the second quarter valued at about $9,805,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Company Profile

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.