Stryker Co. (NYSE:SYK) Shares Sold by Palisade Asset Management LLC

Palisade Asset Management LLC trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,192 shares of the medical technology company’s stock after selling 275 shares during the period. Stryker comprises approximately 1.3% of Palisade Asset Management LLC’s investment portfolio, making the stock its 24th biggest position. Palisade Asset Management LLC’s holdings in Stryker were worth $11,736,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 61 shares during the period. Rogco LP acquired a new position in Stryker in the 4th quarter worth approximately $30,000. HBC Financial Services PLLC purchased a new position in Stryker during the 4th quarter worth approximately $37,000. Bourgeon Capital Management LLC acquired a new stake in Stryker during the 4th quarter valued at $37,000. Finally, Operose Advisors LLC lifted its holdings in shares of Stryker by 308.6% in the third quarter. Operose Advisors LLC now owns 143 shares of the medical technology company’s stock valued at $39,000 after purchasing an additional 108 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Transactions at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Piper Sandler lifted their price target on Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. TD Cowen upped their target price on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and raised their price target for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. Evercore ISI upped their price objective on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Roth Mkm increased their target price on shares of Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $365.94.

Stryker Stock Performance

Stryker stock traded down $2.86 during trading hours on Wednesday, reaching $329.28. 1,159,898 shares of the company were exchanged, compared to its average volume of 1,326,024. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average of $346.05 and a 200 day moving average of $318.84. The firm has a market cap of $125.44 billion, a price-to-earnings ratio of 37.63, a PEG ratio of 2.54 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. Stryker’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $2.14 EPS. As a group, research analysts anticipate that Stryker Co. will post 11.94 earnings per share for the current year.

Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.