Stryker Co. (NYSE:SYK) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lessened its stake in shares of Stryker Co. (NYSE:SYK) by 7.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,491 shares of the medical technology company’s stock after selling 2,337 shares during the quarter. Advisors Asset Management Inc.’s holdings in Stryker were worth $10,293,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SYK. Centennial Bank AR increased its holdings in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares in the last quarter. Hara Capital LLC bought a new position in shares of Stryker during the 3rd quarter valued at $42,000. HBW Advisory Services LLC bought a new position in shares of Stryker in the 3rd quarter valued at approximately $42,000. Grove Bank & Trust raised its holdings in Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after acquiring an additional 56 shares during the period. Finally, DT Investment Partners LLC boosted its holdings in Stryker by 114.3% during the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after acquiring an additional 72 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Down 0.8 %

SYK stock opened at $385.68 on Thursday. The business has a fifty day moving average price of $365.46 and a 200 day moving average price of $348.66. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The stock has a market capitalization of $147.03 billion, a price-to-earnings ratio of 41.34, a P/E/G ratio of 2.93 and a beta of 0.91. Stryker Co. has a fifty-two week low of $285.79 and a fifty-two week high of $398.20.

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

Analyst Ratings Changes

Several brokerages recently weighed in on SYK. Truist Financial increased their target price on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Citigroup increased their price target on shares of Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Barclays upped their price objective on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus decreased their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker 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. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,381 shares of company stock worth $24,825,275 in the last quarter. Insiders own 5.90% of the company’s stock.

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.