Liberty Capital Management Inc. reduced its stake in Stryker Corporation (NYSE:SYK – Free Report) by 25.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,093 shares of the medical technology company’s stock after selling 3,430 shares during the period. Liberty Capital Management Inc.’s holdings in Stryker were worth $2,780,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in SYK. State Street Corp boosted its position in Stryker by 1.2% in the second quarter. State Street Corp now owns 15,532,565 shares of the medical technology company’s stock valued at $4,903,772,000 after buying an additional 183,400 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Stryker by 0.6% during the second quarter. Wellington Management Group LLP now owns 8,167,185 shares of the medical technology company’s stock worth $2,571,357,000 after buying an additional 45,478 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Stryker during the second quarter worth $1,404,284,000. Royal Bank of Canada increased its holdings in shares of Stryker by 6.5% during the first quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company’s stock worth $1,075,552,000 after buying an additional 199,863 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Stryker by 21.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,689,376 shares of the medical technology company’s stock worth $846,723,000 after buying an additional 481,175 shares in the last quarter. 77.09% of the stock is owned by institutional investors.
Insider Activity at Stryker
In other Stryker news, insider Debra King sold 826 shares of Stryker stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total transaction of $277,783.80. Following the transaction, the insider directly owned 6,210 shares of the company’s stock, valued at approximately $2,088,423. The trade was a 11.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dylan Crotty sold 441 shares of Stryker stock in a transaction dated 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. The trade was a 6.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 351,267 shares of company stock worth $118,197,701 over the last three months. Company insiders own 4.60% of the company’s stock.
Stryker Trading Down 1.4%
SYK opened at $334.85 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.18 and a quick ratio of 1.30. Stryker Corporation has a fifty-two week low of $267.00 and a fifty-two week high of $389.33. The company’s 50 day moving average price is $292.31 and its two-hundred day moving average price is $323.76. The firm has a market capitalization of $127.47 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 2.33 and a beta of 0.78.
Stryker (NYSE:SYK – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The medical technology company reported $3.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.55 by ($0.03). The business had revenue of $6.52 billion for 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 period in the previous year, the business posted $3.19 EPS. As a group, research analysts predict that Stryker Corporation will post 14.84 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on SYK. Royal Bank Of Canada dropped their price target on Stryker from $420.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, October 30th. JPMorgan Chase & Co. reduced their price objective on Stryker from $350.00 to $340.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th. Leerink Partners lowered their target price on Stryker from $403.00 to $353.00 and set an “outperform” rating for the company in a report on Friday, October 9th. Stifel Nicolaus dropped their target price on Stryker from $330.00 to $325.00 and set a “buy” rating for the company in a research report on Monday. Finally, BTIG Research dropped their target price on Stryker from $316.00 to $304.00 and set a “buy” rating for the company in a research report on Friday, October 30th. Twenty-one analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $343.73.
View Our Latest Stock Report on Stryker
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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