S&CO Inc. Reduces Stock Position in Stryker Co. (NYSE:SYK)

S&CO Inc. lowered its stake in shares of Stryker Co. (NYSE:SYK) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,022 shares of the medical technology company’s stock after selling 595 shares during the period. S&CO Inc.’s holdings in Stryker were worth $5,788,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Centennial Bank AR raised its position in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of Stryker in the third quarter worth $42,000. HBW Advisory Services LLC purchased a new stake in shares of Stryker in the third quarter worth $42,000. Grove Bank & Trust raised its position in shares of Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after buying an additional 56 shares in the last quarter. Finally, DT Investment Partners LLC raised its position in shares of Stryker by 114.3% in the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after buying an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. This trade represents a 17.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,381 shares of company stock worth $24,825,275. Insiders own 5.90% of the company’s stock.

Stryker Stock Up 1.8 %

NYSE SYK opened at $390.08 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a 1 year low of $282.35 and a 1 year high of $392.70. The business’s 50-day moving average is $364.07 and its 200 day moving average is $347.40. The stock has a market capitalization of $148.71 billion, a PE ratio of 41.81, a PEG ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the business posted $2.46 earnings per share. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. Sell-side analysts forecast that Stryker Co. will post 12.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SYK shares. Robert W. Baird increased their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Stifel Nicolaus lowered their price target on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Citigroup raised their price target on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Truist Financial raised their price target on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Finally, Wolfe Research began coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.