Stryker (NYSE:SYK) Stock Price Down 6.1% – Here’s Why

Shares of Stryker Corporation (NYSE:SYK) dropped 6.1% during trading on Tuesday . The company traded as low as $306.53 and last traded at $311.3220. 420,755 shares changed hands during trading, a decline of 82% from the average daily volume of 2,345,971 shares. The stock had previously closed at $331.45.

Analysts Set New Price Targets

Several research firms have recently issued reports on SYK. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $361.00 price objective on shares of Stryker in a research note on Friday, May 1st. Argus set a $370.00 target price on shares of Stryker in a report on Thursday. Truist Financial restated a “hold” rating and issued a $330.00 price target (down from $380.00) on shares of Stryker in a research report on Monday, May 4th. Leerink Partners dropped their price target on shares of Stryker from $410.00 to $407.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Finally, Wall Street Zen lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average price target of $392.52.

Stryker Stock Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25. The company has a fifty day moving average price of $310.47 and a 200 day moving average price of $337.68. The stock has a market cap of $119.08 billion, a P/E ratio of 35.97, a P/E/G ratio of 2.11 and a beta of 0.77.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.38). The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.34 billion. Stryker had a net margin of 13.20% and a return on equity of 23.42%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.84 EPS. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. On average, equities analysts expect that Stryker Corporation will post 14.98 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. Stryker’s dividend payout ratio is 40.74%.

Insider Activity at Stryker

In other news, VP Robert S. Fletcher sold 4,544 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $306.87, for a total value of $1,394,417.28. Following the completion of the sale, the vice president owned 10,582 shares in the company, valued at $3,247,298.34. This represents a 30.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP M Kathryn Fink sold 3,500 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $283.45, for a total transaction of $992,075.00. Following the completion of the sale, the vice president directly owned 177 shares of the company’s stock, valued at $50,170.65. The trade was a 95.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 323,264 shares of company stock valued at $100,659,489. 4.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Stryker

Several large investors have recently made changes to their positions in SYK. Godfrey Financial Associates Inc. purchased a new position in Stryker in the fourth quarter valued at about $26,000. Sankala Group LLC purchased a new stake in shares of Stryker during the 4th quarter worth approximately $26,000. United Financial Planning Group LLC purchased a new stake in shares of Stryker during the 3rd quarter worth approximately $27,000. Atlas Capital Advisors Inc. bought a new stake in shares of Stryker in the 4th quarter worth approximately $27,000. Finally, DJE Kapital AG bought a new stake in shares of Stryker in the 4th quarter worth approximately $28,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

About Stryker

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.