Lathrop Investment Management Corp Cuts Stock Position in Stryker Co. (NYSE:SYK)

Lathrop Investment Management Corp trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 1.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,013 shares of the medical technology company’s stock after selling 992 shares during the quarter. Stryker accounts for 3.4% of Lathrop Investment Management Corp’s holdings, making the stock its 7th biggest position. Lathrop Investment Management Corp’s holdings in Stryker were worth $18,068,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its stake in Stryker by 78.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after acquiring an additional 58,673 shares in the last quarter. OFI Invest Asset Management grew its position in Stryker by 3,210.9% in the second quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock valued at $1,062,000 after purchasing an additional 3,243 shares in the last quarter. Tidal Investments LLC increased its stake in Stryker by 14.2% in the 1st quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock valued at $4,853,000 after buying an additional 1,681 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Stryker by 2.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock worth $210,289,000 after buying an additional 16,504 shares in the last quarter. Finally, Sivik Global Healthcare LLC boosted its stake in shares of Stryker by 8.0% during the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock worth $9,754,000 after buying an additional 2,000 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

NYSE SYK opened at $389.88 on Friday. Stryker Co. has a 12-month low of $285.79 and a 12-month high of $398.20. The firm has a 50-day moving average price of $365.91 and a two-hundred day moving average price of $348.95. The company has a market capitalization of $148.63 billion, a P/E ratio of 41.79, a P/E/G ratio of 2.93 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 (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 analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion for 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 firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.46 earnings per share. Analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,381 shares of company stock worth $24,825,275. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SYK shares. Needham & Company LLC upped their target price on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird increased their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Barclays raised their target price on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average price target of $393.65.

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.