Stryker Corporation [NYSE: SYK] price plunged by -2.74 percent to reach at -$6.59. The company report on November 19, 2020 that Stryker announces pricing of $600 million senior notes offering.
Stryker (NYSE:SYK) announced that it has priced an offering of $600 million aggregate principal amount of its 0.600% Notes due 2023 (the “Notes”). Unless previously redeemed pursuant to their terms, the Notes will mature on December 1, 2023. The offering of the Notes is expected to settle on November 23, 2020, subject to the satisfaction of customary closing conditions.
The Company intends to use the net proceeds from the offering for general corporate purposes, which may include payments in connection with the redemption of Wright Medical Group N.V.’s (“Wright”) convertible debt, which the Company assumed upon completion of the acquisition of Wright.
A sum of 1898592 shares traded at recent session while its average daily volume was at 1.18M shares. Stryker Corporation shares reached a high of $240.51 and dropped to a low of $233.06 until finishing in the latest session at $233.72.
The one-year SYK stock forecast points to a potential downside of -3.0. The average equity rating for SYK stock is currently 2.10, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Stryker Corporation [SYK]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SYK shares is $226.91 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SYK stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Northland Capital have made an estimate for Stryker Corporation shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on October 06, 2020. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Peer Perform. The new note on the price target was released on September 11, 2020, representing the official price target for Stryker Corporation stock. Previously, the target price had yet another raise to $155, while Barclays analysts kept a Underweight rating on SYK stock. On April 01, 2020, analysts decreased their price target for SYK shares from 248 to 150.
The Average True Range (ATR) for Stryker Corporation is set at 6.91, with the Price to Sales ratio for SYK stock in the period of the last 12 months amounting to 6.20. The Price to Book ratio for the last quarter was 6.76, with the Price to Cash per share for the same quarter was set at 19.00. Price to Free Cash Flow for SYK in the course of the last twelve months was 62.30 with Quick ratio for the last quarter at 2.20.
SYK Stock Performance Analysis:
Stryker Corporation [SYK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.85. With this latest performance, SYK shares gained by 9.49% in over the last four-week period, additionally plugging by 19.41% over the last 6 months – not to mention a rise of 15.44% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SYK stock in for the last two-week period is set at 60.10, with the RSI for the last a single of trading hit 58.39, and the three-weeks RSI is set at 59.11 for Stryker Corporation [SYK]. The present Moving Average for the last 50 days of trading for this stock 217.55, while it was recorded at 234.69 for the last single week of trading, and 194.15 for the last 200 days.
Insight into Stryker Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Stryker Corporation [SYK] shares currently have an operating margin of +22.76 and a Gross Margin at +63.03. Stryker Corporation’s Net Margin is presently recorded at +13.99.
Return on Total Capital for SYK is now 14.77, given the latest momentum, and Return on Invested Capital for the company is 9.56. Return on Equity for this stock inclined to 16.98, with Return on Assets sitting at 7.26. When it comes to the capital structure of this company, Stryker Corporation [SYK] has a Total Debt to Total Equity ratio set at 89.62. Additionally, SYK Total Debt to Total Capital is recorded at 47.26, with Total Debt to Total Assets ending up at 38.04. Long-Term Debt to Equity for the company is recorded at 82.24, with the Long-Term Debt to Total Capital now at 43.37.
Reflecting on the efficiency of the workforce at the company, Stryker Corporation [SYK] managed to generate an average of $52,075 per employee. Receivables Turnover for the company is 5.70 with a Total Asset Turnover recorded at a value of 0.52.Stryker Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.90.
SYK Stock EPS
With the latest financial reports released by the company, Stryker Corporation posted 2.49/share EPS, while the average EPS was predicted by analysts to be reported at 2.46/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SYK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Stryker Corporation go to 8.49%.
Stryker Corporation [SYK] Insider Position Details
There are presently around $63,607 million, or 74.80% of SYK stock, in the hands of institutional investors. The top three institutional holders of SYK stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 29,525,065, which is approximately 1.13% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 28,707,413 shares of the stock with an approximate value of $6.71 billion in SYK stocks shares; and BLACKROCK INC., currently with $6.04 billion in SYK stock with ownership of nearly -0.481% of the company’s market capitalization.
Positions in Stryker Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 651 institutional holders increased their position in Stryker Corporation [NYSE:SYK] by around 10,872,990 shares. Additionally, 603 investors decreased positions by around 9,494,321 shares, while 252 investors held positions by with 251,783,886 shares. The mentioned changes placed institutional holdings at 272,151,197 shares, according to the latest SEC report filing. SYK stock had 106 new institutional investments in for a total of 1,434,417 shares, while 97 institutional investors sold positions of 896,514 shares during the same period.