Stryker (SYK) Cut to “Hold” at ValuEngine

Stryker (NYSE:SYK) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, April 18th, ValuEngine reports.

Several other research firms have also recently issued reports on SYK. Credit Suisse Group raised Stryker to an “outperform” rating in a research note on Thursday, January 31st. JPMorgan Chase & Co. increased their price target on Stryker from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Barclays set a $203.00 target price on Stryker and gave the company a “buy” rating in a research note on Friday, March 8th. Citigroup decreased their target price on Stryker from $174.00 to $169.00 and set a “neutral” rating for the company in a research note on Wednesday, January 2nd. Finally, Zacks Investment Research reaffirmed a “hold” rating and set a $162.00 target price on shares of Stryker in a research note on Monday, December 31st. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $196.89.

NYSE SYK traded down $0.71 during trading hours on Thursday, hitting $187.30. The company had a trading volume of 950,823 shares, compared to its average volume of 1,399,027. Stryker has a fifty-two week low of $144.75 and a fifty-two week high of $199.85. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.12 and a quick ratio of 1.30. The firm has a market capitalization of $70.47 billion, a PE ratio of 25.62, a P/E/G ratio of 2.32 and a beta of 0.84.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.04. Stryker had a return on equity of 26.72% and a net margin of 25.38%. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same period last year, the company earned $1.68 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities research analysts expect that Stryker will post 8.15 earnings per share for the current fiscal year.

In related news, Chairman Kevin Lobo sold 41,750 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $194.11, for a total value of $8,104,092.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $188.21, for a total value of $508,167.00. Following the completion of the transaction, the chief financial officer now owns 23,333 shares of the company’s stock, valued at approximately $4,391,503.93. The disclosure for this sale can be found here. Insiders sold a total of 111,550 shares of company stock valued at $21,374,171 in the last quarter. 7.20% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund lifted its stake in Stryker by 8,029.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,075,473 shares of the medical technology company’s stock worth $39,000 after acquiring an additional 6,000,739 shares in the last quarter. Norges Bank purchased a new stake in Stryker in the 4th quarter worth about $474,132,000. BlackRock Inc. lifted its stake in Stryker by 4.1% in the 4th quarter. BlackRock Inc. now owns 24,882,912 shares of the medical technology company’s stock worth $3,900,399,000 after acquiring an additional 975,678 shares in the last quarter. GQG Partners LLC purchased a new stake in Stryker in the 4th quarter worth about $116,175,000. Finally, Ellis Investment Partners LLC lifted its stake in Stryker by 19,658.9% in the 1st quarter. Ellis Investment Partners LLC now owns 367,318 shares of the medical technology company’s stock worth $367,000 after acquiring an additional 365,459 shares in the last quarter. Institutional investors and hedge funds own 74.68% of the company’s stock.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Analyst Recommendations for Stryker (NYSE:SYK)

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