In yesterday’s Wall Street session, Stryker Corporation (NYSE:SYK) shares traded at $252.49, up 2.63% from the previous session.
SYK stock price is now 9.14% away from the 50-day moving average and 11.64% away from the 200-day moving average. The market capitalization of the company currently stands at $95.94B.
With the price target reduced from $225 to $220, Canaccord Genuity Downgraded its rating from Buy to Hold for Stryker Corporation (NYSE: SYK). On October 18, 2022, Barclays recently initiated its ‘Overweight’ rating on the stock quoting a target price of $239, while ‘Jefferies’ rates the stock as ‘Buy’.
In other news, Datar Srikant M., Director sold 1,000 shares of the company’s stock on Dec 07. The stock was sold for $240,255 at an average price of $240.25. Upon completion of the transaction, the Director now directly owns 6,262 shares in the company, valued at $1.58 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 05, Director Datar Srikant M. sold 500 shares of the business’s stock. A total of $119,348 was realized by selling the stock at an average price of $238.70. This leaves the insider owning 7,262 shares of the company worth $1.83 million. Insiders disposed of 878,750 shares of company stock worth roughly $221.88 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SYK stock. A new stake in Stryker Corporation shares was purchased by DIAMOND HILL CAPITAL MANAGEMENT INC during the first quarter worth $301,483,000. GQG PARTNERS LLC invested $153,630,000 in shares of SYK during the first quarter. In the first quarter, FARMER STEVEN PATRICK acquired a new stake in Stryker Corporation valued at approximately $77,069,000. AVIDITY PARTNERS MANAGEMENT LP acquired a new stake in SYK for approximately $46,635,000. REDMILE GROUP, LLC purchased a new stake in SYK valued at around $39,722,000 in the second quarter. In total, there are 2,035 active investors with 79.80% ownership of the company’s stock.
On Wednesday morning Stryker Corporation (NYSE: SYK) stock kicked off with the opening price of $248.99. During the past 12 months, Stryker Corporation has had a low of $188.84 and a high of $280.43. As of last week, the company has a debt-to-equity ratio of 0.78, a current ratio of 2.00, and a quick ratio of 1.20. The fifty day moving average price for SYK is $231.35 and a two-hundred day moving average price translates $226.16 for the stock.
The latest earnings results from Stryker Corporation (NYSE: SYK) was released for Jun, 2022. According to the Medical Devices Company, earnings per share came in at $2.25, missing analysts’ expectations of $2.28 by -0.03. This compares to $1.14 EPS in the same period last year. The net profit margin was 13.70% and return on equity was 15.80% for SYK. The company reported revenue of $4.48 billion for the quarter, compared to $4.16 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.67 percent. For the current quarter, analysts expect SYK to generate $4.46B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/31/2023. Investors who held shares on 12/30/2022 were paid a $0.75 dividend. On an annualized basis, this represents a $3.00 dividend and a 1.19% percent yield. There was an ex-dividend date of 12/29/2022 for this dividend. In terms of dividend payout ratio, SYK is presently at 42.80%.
Stryker Corporation(SYK) Company Profile
Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies. The MedSurg and Neurotechnology 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 device products that are used in various medical specialties. This segment also provides neurotechnology products, which include products used for minimally invasive endovascular techniques; products for brain and open skull based surgical procedures; orthobiologic and biosurgery products, such as synthetic bone grafts and vertebral augmentation products; minimally invasive products for the treatment of acute ischemic and hemorrhagic stroke; and craniomaxillofacial implant products, including cranial, maxillofacial, and chest wall devices, as well as dural substitutes and sealants. The company sells its products to doctors, hospitals, and other healthcare facilities through company-owned subsidiaries and branches, as well as third-party dealers and distributors in approximately 75 countries. Stryker Corporation was founded in 1941 and is headquartered in Kalamazoo, Michigan.