Stryker Co. (NYSE:SYK) Shares Sold by Covestor Ltd

Covestor Ltd reduced its position in shares of Stryker Co. (NYSE:SYK) by 14.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 266 shares of the medical technology company’s stock after selling 44 shares during the period. Covestor Ltd’s holdings in Stryker were worth $96,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Stryker by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after buying an additional 309,592 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Stryker by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after purchasing an additional 813,311 shares during the last quarter. Clearbridge Investments LLC grew its stake in Stryker by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after purchasing an additional 66,482 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Stryker by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock worth $411,624,000 after purchasing an additional 46,375 shares during the last quarter. Finally, Blair William & Co. IL raised its position in shares of Stryker by 5.0% in the 1st quarter. Blair William & Co. IL now owns 926,578 shares of the medical technology company’s stock valued at $331,595,000 after purchasing an additional 44,093 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of SYK opened at $387.11 on Wednesday. The firm has a market capitalization of $147.57 billion, a price-to-earnings ratio of 40.61, a price-to-earnings-growth ratio of 2.83 and a beta of 0.91. The stock’s fifty day moving average is $361.83 and its 200-day moving average is $346.06. Stryker Co. has a one year low of $276.60 and a one year high of $388.12. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the business posted $2.46 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SYK. Citigroup lifted their price target on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. BTIG Research upped their target price on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Stifel Nicolaus cut their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Robert W. Baird lifted their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 600 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares in the company, valued at $3,219,495. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,381 shares of company stock valued at $24,825,275. 5.90% of the stock is owned by corporate insiders.

About Stryker

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.