Stryker Co. (NYSE:SYK) CEO Kevin Lobo Sells 57,313 Shares

Stryker Co. (NYSE:SYK) CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction 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 directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Stryker Stock Up 1.7 %

NYSE SYK traded up $6.25 during trading on Friday, hitting $376.08. The company’s stock had a trading volume of 674,984 shares, compared to its average volume of 1,252,986. Stryker Co. has a fifty-two week low of $266.93 and a fifty-two week high of $377.83. The company has a market cap of $143.37 billion, a PE ratio of 39.64, a P/E/G ratio of 2.78 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The business’s 50 day simple moving average is $360.91 and its 200-day simple moving average is $345.12.

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. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period in the previous year, the company posted $2.46 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. On average, equities analysts anticipate that Stryker Co. will post 12.06 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on SYK. 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 report on Wednesday, October 30th. Citigroup upped their target price on shares of Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wolfe Research started coverage on shares of Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price for the company. Barclays raised their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC raised their target price on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $393.65.

Institutional Investors Weigh In On Stryker

Several institutional investors and hedge funds have recently modified their holdings of SYK. Norden Group LLC acquired a new stake in shares of Stryker in the 1st quarter valued at about $280,000. Central Pacific Bank Trust Division acquired a new stake in Stryker during the 1st quarter worth approximately $39,000. Envestnet Portfolio Solutions Inc. lifted its position in Stryker by 43.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after acquiring an additional 5,565 shares during the period. Empowered Funds LLC lifted its position in Stryker by 74.4% during the 1st quarter. Empowered Funds LLC now owns 6,938 shares of the medical technology company’s stock worth $2,483,000 after acquiring an additional 2,960 shares during the period. Finally, Hilltop National Bank purchased a new position in shares of Stryker during the 1st quarter worth approximately $553,000. Hedge funds and other institutional investors own 77.09% 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.