Stryker (NYSE:SYK) Downgraded by Wall Street Zen to “Hold”

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

SYK has been the subject of a number of other research reports. JPMorgan Chase & Co. lowered their price target on Stryker from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Truist Financial lifted their price objective on Stryker from $330.00 to $340.00 and gave the company a “hold” rating in a research note on Friday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Stryker in a research report on Friday, July 31st. Citizens Jmp reduced their price target on shares of Stryker from $440.00 to $400.00 and set a “market outperform” rating on the stock in a research report on Monday, August 3rd. Finally, Canaccord Genuity Group decreased their price objective on shares of Stryker from $400.00 to $385.00 and set a “buy” rating for the company in a research note on Friday, September 18th. Nineteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $372.64.

Stryker Stock Performance

Shares of SYK stock opened at $276.02 on Friday. Stryker has a one year low of $267.00 and a one year high of $392.55. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.33 and a current ratio of 2.16. The company has a 50 day moving average price of $310.77 and a 200 day moving average price of $316.63. The firm has a market capitalization of $105.87 billion, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 1.74 and a beta of 0.78.

Stryker (NYSE:SYK) last announced its quarterly earnings results 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 company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.58 billion. Stryker had a net margin of 14.43% and a return on equity of 23.63%. Stryker’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $3.13 EPS. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Sell-side analysts anticipate that Stryker will post 14.97 EPS for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.52 annualized dividend and a yield of 1.3%. Stryker’s payout ratio is 36.48%.

Insiders Place Their Bets

In other news, insider Dylan Crotty sold 441 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $328.61, for a total transaction of $144,917.01. Following the transaction, the insider directly owned 6,102 shares of the company’s stock, valued at approximately $2,005,178.22. The trade was a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 300,000 shares of the company’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 transaction, the director owned 2,301,375 shares of the company’s stock, valued at $773,031,862.50. This trade represents a 11.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 351,267 shares of company stock worth $118,197,701 in the last 90 days. 4.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Stryker

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amundi increased its stake in shares of Stryker by 18.3% during the second quarter. Amundi now owns 1,246,353 shares of the medical technology company’s stock valued at $392,402,000 after acquiring an additional 192,447 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Stryker by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 859,544 shares of the medical technology company’s stock worth $270,642,000 after purchasing an additional 65,333 shares in the last quarter. Veritas Asset Management LLP acquired a new stake in Stryker in the second quarter worth approximately $168,057,000. Rakuten Investment Management Inc. bought a new position in Stryker during the 2nd quarter valued at $18,646,000. Finally, Bank of America Corp DE bought a new position in Stryker during the 2nd quarter valued at $1,404,284,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

About Stryker

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.