Kentucky Retirement Systems Insurance Trust Fund Sells 785 Shares of Stryker Co. (NYSE:SYK)

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in shares of Stryker Co. (NYSE:SYK) by 7.2% during the third quarter, HoldingsChannel reports. The fund owned 10,151 shares of the medical technology company’s stock after selling 785 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Stryker were worth $3,667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Seelaus Asset Management LLC increased its holdings in shares of Stryker by 2.2% during the 3rd quarter. Seelaus Asset Management LLC now owns 2,779 shares of the medical technology company’s stock worth $1,004,000 after purchasing an additional 60 shares during the period. Coastline Trust Co bought a new position in Stryker during the third quarter valued at about $194,000. Simplify Asset Management Inc. raised its holdings in Stryker by 64.1% in the 3rd quarter. Simplify Asset Management Inc. now owns 1,812 shares of the medical technology company’s stock valued at $655,000 after acquiring an additional 708 shares in the last quarter. Bank of Marin lifted its position in shares of Stryker by 3.4% in the 3rd quarter. Bank of Marin now owns 2,301 shares of the medical technology company’s stock worth $831,000 after acquiring an additional 75 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of Stryker by 6.5% during the 3rd quarter. Empowered Funds LLC now owns 6,504 shares of the medical technology company’s stock worth $2,350,000 after purchasing an additional 399 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Up 1.8 %

Shares of Stryker stock opened at $390.08 on Friday. The business has a fifty day simple moving average of $364.07 and a 200 day simple moving average of $347.33. The stock has a market cap of $148.71 billion, a PE ratio of 41.81, a price-to-earnings-growth ratio of 2.89 and a beta of 0.91. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 12 month low of $282.35 and a 12 month high of $392.70.

Stryker (NYSE:SYK) last posted its 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. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.46 EPS. Research analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. 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 report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Truist Financial boosted their target price on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Barclays raised their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, BTIG Research lifted their price target on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Buying and Selling at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The trade was a 17.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,381 shares of company stock valued at $24,825,275. Company 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.