Kelleher Financial Advisors lowered its stake in Stryker Corporation (NYSE:SYK – Free Report) by 56.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,740 shares of the medical technology company’s stock after selling 2,220 shares during the quarter. Kelleher Financial Advisors’ holdings in Stryker were worth $479,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in SYK. Focused Wealth Management Inc raised its stake in shares of Stryker by 28.5% in the 3rd quarter. Focused Wealth Management Inc now owns 1,191 shares of the medical technology company’s stock valued at $328,000 after purchasing an additional 264 shares during the period. Rakuten Investment Management Inc. lifted its holdings in shares of Stryker by 10.6% in the third quarter. Rakuten Investment Management Inc. now owns 62,389 shares of the medical technology company’s stock valued at $17,392,000 after purchasing an additional 5,976 shares in the last quarter. AIA Group Ltd boosted its position in shares of Stryker by 230.4% during the third quarter. AIA Group Ltd now owns 46,593 shares of the medical technology company’s stock worth $12,831,000 after buying an additional 32,493 shares during the period. Provenance Wealth Advisors LLC boosted its position in shares of Stryker by 1,376.5% during the third quarter. Provenance Wealth Advisors LLC now owns 3,455 shares of the medical technology company’s stock worth $951,000 after buying an additional 3,221 shares during the period. Finally, Associated Banc Corp acquired a new position in shares of Stryker during the third quarter worth about $5,488,000. Institutional investors own 77.09% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently issued reports on SYK shares. Wolfe Research downgraded Stryker from an “outperform” rating to a “peer perform” rating in a report on Thursday, August 13th. Sanford C. Bernstein restated a “market perform” rating on shares of Stryker in a research note on Wednesday, October 7th. UBS Group reduced their price target on Stryker from $400.00 to $382.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Truist Financial reaffirmed a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Stryker in a research report on Monday. Finally, The Goldman Sachs Group decreased their price target on shares of Stryker from $363.00 to $339.00 and set a “neutral” rating for the company in a research note on Tuesday, July 14th. Twenty-one analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $343.73.
View Our Latest Report on Stryker
Stryker Trading Up 9.6%
Shares of NYSE:SYK opened at $340.39 on Thursday. The company’s 50-day moving average price is $292.21 and its two-hundred day moving average price is $323.91. Stryker Corporation has a one year low of $267.00 and a one year high of $389.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.18 and a quick ratio of 1.30. The stock has a market capitalization of $129.59 billion, a PE ratio of 36.25, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78.
Stryker (NYSE:SYK – Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The medical technology company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.55 by ($0.03). The company had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.62 billion. Stryker had a net margin of 13.78% and a return on equity of 23.74%. Stryker’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.19 EPS. On average, equities analysts forecast that Stryker Corporation will post 14.85 EPS for the current fiscal year.
Insider Buying and Selling
In other Stryker news, Director Ronda E. Stryker sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $340.10, for a total transaction of $17,005,000.00. Following the transaction, the director owned 2,251,375 shares of the company’s stock, valued at $765,692,637.50. The trade was a 2.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Dylan Crotty sold 441 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $328.61, for a total value of $144,917.01. Following the transaction, the insider directly owned 6,102 shares in the company, valued at $2,005,178.22. This trade represents a 6.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 351,267 shares of company stock worth $118,197,701. Corporate insiders own 4.60% of the company’s stock.
Stryker Profile
Stryker Corporation (NYSE: SYK) is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.
The company’s product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.
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