Pacer Advisors Inc. Has $9.47 Million Stake in Stryker Co. (NYSE:SYK)

Pacer Advisors Inc. cut its position in Stryker Co. (NYSE:SYK) by 4.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 26,221 shares of the medical technology company’s stock after selling 1,217 shares during the quarter. Pacer Advisors Inc.’s holdings in Stryker were worth $9,473,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Centennial Bank AR raised its position in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new position in shares of Stryker in the 3rd quarter valued at $36,000. HBW Advisory Services LLC acquired a new position in shares of Stryker during the 3rd quarter worth $42,000. Hara Capital LLC acquired a new position in shares of Stryker during the 3rd quarter worth $42,000. Finally, Grove Bank & Trust boosted its stake in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after buying an additional 56 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other news, insider Viju Menon sold 600 shares of Stryker stock in a transaction on 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. The trade was a 6.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at $3,715,540. The trade was a 17.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,381 shares of company stock worth $24,825,275. 5.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Truist Financial boosted their target price on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their price objective on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised their target price on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wolfe Research began coverage on shares of Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target for the company. Finally, Needham & Company LLC raised their price objective on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Price Performance

Shares of NYSE SYK opened at $384.85 on Friday. The company has a market capitalization of $146.71 billion, a PE ratio of 41.25, a P/E/G ratio of 2.94 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 twelve month low of $285.79 and a twelve month high of $398.20. The firm has a fifty day simple moving average of $366.20 and a 200 day simple moving average of $349.48.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.10. The firm 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 business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the company posted $2.46 EPS. On average, sell-side analysts forecast that Stryker Co. will post 12.06 EPS for the current 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.