Intech Investment Management LLC Cuts Position in Stryker Co. (NYSE:SYK)

Intech Investment Management LLC trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 17.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,868 shares of the medical technology company’s stock after selling 841 shares during the quarter. Intech Investment Management LLC’s holdings in Stryker were worth $1,397,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SYK. Centennial Bank AR raised its stake in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC bought a new stake in Stryker in the third quarter worth about $36,000. HBW Advisory Services LLC purchased a new position in Stryker in the third quarter valued at about $42,000. Hara Capital LLC bought a new position in shares of Stryker during the 3rd quarter valued at approximately $42,000. Finally, Grove Bank & Trust increased its stake in shares of Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on SYK shares. UBS Group increased their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Stifel Nicolaus dropped their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Wolfe Research assumed coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price for the company. Finally, Wells Fargo & Company boosted their price target on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,781 shares of company stock worth $24,612,275 over the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

NYSE:SYK opened at $389.71 on Wednesday. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The stock has a market cap of $148.56 billion, a P/E ratio of 41.77, a PEG ratio of 2.90 and a beta of 0.91. The business’s 50-day moving average price is $366.97 and its two-hundred day moving average price is $350.42.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.46 EPS. As a group, equities analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Company 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.