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Taking a Look at Stryker’s Recent Stock Price Performance

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Stock Performance

On August 31, Stryker (SYK) closed trading at a closing price of $139.3. It has a 50-day moving average of $144.7 and a 200-day moving average of $137.5. Stryker stock fell around 1.3% on July 27, the day the company released its 2Q17 earnings results. However, the company beat analysts’ revenue as well as earnings estimates for 2Q17.

Since the company’s 2Q17 earnings release on July 27, Stryker stock has fallen around 3.3%. The stock, however, has returned ~22% over the last year. So, SYK stock outperformed the market represented by the S&P 500 Index, which returned around 13.3% over the last 12 months. The stock also outperformed the US medical device industry, as represented by the iShares U.S. Medical Devices ETF (IHI). IHI invests approximately 5.4% of its total holdings in SYK.

As of August 30, SYK stock was trading ~31% above its 52-week low of $106.5 on November 14, 2016. The stock was trading ~6.4% below its 52-week high of $148.8 on August 1, 2017.

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Recent events and the impact on SYK stock

The stock has been on a bullish trend for the past few years, further strengthening over the last few months. However, recently Stryker’s stock has been a little volatile due to certain company-specific events.

On August 23, Stryker’s stock price fell more than 4% as the company announced the recall of certain products and reduced its full fiscal 2017 guidance due to an FDA (US Food and Drug Administration) warning. On June 19, Stryker rose around 0.3% on the announcement of its acquisition of Novadaq. Further, on July 12, Stryker stock rose approximately 2.7%, triggered by news of a patent case win against Zimmer Biomet Holdings.

As of August 31, Stryker’s peers Becton Dickinson (BDX), Thermo Fisher Scientific (TMO), and Zimmer Biomet Holdings (ZBH) have generated returns of 13.7%, 17.7%, and -12.6%, respectively, over the last 12 months.

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