PDT Partners LLC Has $366,000 Stock Holdings in Stryker Co. (NYSE:SYK)

PDT Partners LLC cut its stake in Stryker Co. (NYSE:SYK) by 84.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,012 shares of the medical technology company’s stock after selling 5,500 shares during the quarter. PDT Partners LLC’s holdings in Stryker were worth $366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of SYK. Avestar Capital LLC increased its position in Stryker by 1.1% during the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after buying an additional 31 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its position in Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock worth $793,000 after buying an additional 32 shares during the last quarter. Stanley Laman Group Ltd. increased its position in Stryker by 4.6% during the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after buying an additional 33 shares during the last quarter. Plimoth Trust Co. LLC increased its position in Stryker by 0.3% during the second quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after buying an additional 33 shares during the last quarter. Finally, Grimes & Company Inc. increased its position in Stryker by 0.4% during the third quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company’s stock worth $2,977,000 after buying an additional 33 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYK has been the topic of several analyst reports. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Evercore ISI increased their target price on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group raised their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada raised their price target on Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $398.40.

Stryker Trading Up 0.3 %

SYK stock opened at $390.97 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a market cap of $149.05 billion, a P/E ratio of 41.90, a P/E/G ratio of 2.94 and a beta of 0.94. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20. The business’s 50 day moving average is $369.58 and its 200-day moving average is $352.53.

Stryker (NYSE:SYK) last released its quarterly earnings data 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. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the company posted $2.46 earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 17.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,781 shares of company stock valued at $24,612,275 in the last ninety days. Insiders own 5.50% of the company’s stock.

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.