Stryker (NYSE:SYK) Hits New 52-Week Low – Here’s Why

Stryker Corporation (NYSE:SYK)’s share price hit a new 52-week low on Tuesday . The stock traded as low as $290.22 and last traded at $291.2090, with a volume of 3089801 shares changing hands. The stock had previously closed at $294.73.

Analyst Ratings Changes

Several brokerages have recently weighed in on SYK. William Blair restated an “outperform” rating on shares of Stryker in a research note on Thursday, March 5th. Truist Financial restated a “hold” rating and set a $330.00 target price (down from $380.00) on shares of Stryker in a research note on Monday. Citigroup lowered their target price on Stryker from $420.00 to $385.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Barclays decreased their price target on Stryker from $469.00 to $394.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Piper Sandler reiterated an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. Sixteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $395.48.

Stryker Stock Down 1.2%

The firm has a market capitalization of $111.53 billion, a price-to-earnings ratio of 33.70, a P/E/G ratio of 1.73 and a beta of 0.80. The stock has a 50 day moving average of $345.67 and a 200 day moving average of $356.80. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, April 30th. The medical technology company reported $2.60 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.38). The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.34 billion. Stryker had a return on equity of 23.42% and a net margin of 13.20%.The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $2.84 earnings per share. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. As a group, analysts expect that Stryker Corporation will post 14.89 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Tuesday, March 31st were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, March 31st. Stryker’s dividend payout ratio (DPR) is 40.74%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the transaction, the director directly owned 2,457,331 shares in the company, valued at $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Stryker

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Stryker by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 33,907,291 shares of the medical technology company’s stock valued at $11,917,396,000 after acquiring an additional 133,892 shares during the period. State Street Corp boosted its stake in Stryker by 2.1% in the fourth quarter. State Street Corp now owns 15,254,407 shares of the medical technology company’s stock valued at $5,374,731,000 after acquiring an additional 311,507 shares during the period. Geode Capital Management LLC boosted its stake in Stryker by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 7,535,572 shares of the medical technology company’s stock valued at $2,636,238,000 after acquiring an additional 69,851 shares during the period. Wellington Management Group LLP boosted its stake in Stryker by 22.6% in the fourth quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company’s stock valued at $2,282,192,000 after acquiring an additional 1,198,665 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in Stryker by 13.3% in the third quarter. Alliancebernstein L.P. now owns 6,338,050 shares of the medical technology company’s stock valued at $2,342,987,000 after acquiring an additional 741,542 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Company Profile

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.