Nicolet Advisory Services LLC Has $869,000 Position in Stryker Co. (NYSE:SYK)

Nicolet Advisory Services LLC cut its stake in Stryker Co. (NYSE:SYK) by 4.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,472 shares of the medical technology company’s stock after selling 128 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Stryker were worth $869,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Nwam LLC bought a new stake in Stryker in the 3rd quarter valued at $1,046,000. Meridian Wealth Management LLC acquired a new position in shares of Stryker in the third quarter valued at about $665,000. Studio Investment Management LLC bought a new position in Stryker during the third quarter worth about $52,000. Icon Wealth Advisors LLC raised its stake in Stryker by 461.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 2,818 shares of the medical technology company’s stock worth $1,018,000 after purchasing an additional 2,316 shares in the last quarter. Finally, GM Advisory Group LLC bought a new stake in Stryker in the 3rd quarter valued at about $208,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of several recent research reports. Evercore ISI raised their target price on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a report on Friday. Barclays increased their target price on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Finally, Truist Financial increased their price objective on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Buying and Selling

In related 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 transaction, 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 36.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were 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 trade represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,381 shares of company stock worth $24,825,275 in the last ninety days. Company insiders own 5.90% of the company’s stock.

Stryker Stock Down 1.4 %

Shares of SYK opened at $384.85 on Friday. 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 Co. has a 52 week low of $285.79 and a 52 week high of $398.20. The stock has a market capitalization of $146.71 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.90 and a beta of 0.91. The stock has a fifty day moving average of $366.20 and a 200-day moving average of $349.48.

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