Zacks Investment Research Lowers Stryker (SYK) to Hold

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Zacks Investment Research lowered shares of Stryker (NYSE:SYK) from a buy rating to a hold rating in a research report report published on Wednesday.

According to Zacks, “Stryker wrapped up the second quarter on a solid note, with earnings and revenues beating estimates. The company continues to gain from its flagship Mako Total Knee platform, which drove its core Orthopaedic segment. In fact, Mako saw increasing robot installations in the quarter. Surging domestic sales is a positive. Moreover, solid performance in emerging markets and Europe paints a bright picture. Considerable expansion in operating margin is encouraging as well. Higher R&D expenses indicate increasing focus on innovation. However, Stryker’s Spine business continued to see market softness and mid-single digit pricing declines. Further, supply issues in the Puerto Rico facility continue to plague the company. The slowdown of MedSurg’s sustainability revenue growth is another negative. Stiff competition is likely to mar Stryker’s prospects. Stryker underperformed the industry in a year.”

A number of other research analysts have also recently commented on SYK. Oppenheimer set a $170.00 price target on shares of Stryker and gave the stock a hold rating in a research note on Wednesday, July 25th. Robert W. Baird raised their price target on shares of Stryker from $187.00 to $192.00 and gave the stock an outperform rating in a research note on Wednesday, July 25th. Canaccord Genuity restated a buy rating and set a $185.00 price target on shares of Stryker in a research note on Wednesday, July 25th. Citigroup raised their price target on shares of Stryker from $171.00 to $173.00 and gave the stock a neutral rating in a research note on Wednesday, July 25th. Finally, Cantor Fitzgerald raised their price target on shares of Stryker from $170.00 to $175.00 and gave the stock a neutral rating in a research note on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. Stryker presently has an average rating of Buy and a consensus target price of $175.90.

SYK stock traded down $1.13 during trading on Wednesday, reaching $165.88. 764,323 shares of the stock were exchanged, compared to its average volume of 1,287,789. Stryker has a twelve month low of $137.70 and a twelve month high of $179.84. The company has a market cap of $62.46 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 2.37 and a beta of 0.62. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.63.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 24th. The medical technology company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.03. Stryker had a return on equity of 26.93% and a net margin of 8.28%. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the business earned $1.53 earnings per share. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. equities research analysts anticipate that Stryker will post 7.25 EPS for the current year.

Several large investors have recently bought and sold shares of SYK. River Wealth Advisors LLC grew its holdings in shares of Stryker by 1.1% in the 1st quarter. River Wealth Advisors LLC now owns 29,300 shares of the medical technology company’s stock valued at $4,715,000 after buying an additional 309 shares during the period. Benedict Financial Advisors Inc. lifted its position in Stryker by 7.2% in the 2nd quarter. Benedict Financial Advisors Inc. now owns 4,681 shares of the medical technology company’s stock valued at $790,000 after acquiring an additional 313 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Stryker by 1.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 21,307 shares of the medical technology company’s stock valued at $3,598,000 after acquiring an additional 316 shares in the last quarter. Mogy Joel R Investment Counsel Inc. lifted its position in Stryker by 0.4% in the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 86,568 shares of the medical technology company’s stock valued at $13,931,000 after acquiring an additional 325 shares in the last quarter. Finally, Associated Banc Corp lifted its position in Stryker by 12.2% in the 2nd quarter. Associated Banc Corp now owns 2,994 shares of the medical technology company’s stock valued at $506,000 after acquiring an additional 325 shares in the last quarter. Institutional investors own 74.72% 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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