Los Angeles Capital Management LLC Sells 146,659 Shares of Stryker Co. (NYSE:SYK)

Los Angeles Capital Management LLC decreased its holdings in shares of Stryker Co. (NYSE:SYK) by 40.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 214,814 shares of the medical technology company’s stock after selling 146,659 shares during the quarter. Los Angeles Capital Management LLC owned 0.06% of Stryker worth $77,604,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SYK. Norden Group LLC purchased a new stake in shares of Stryker in the first quarter valued at approximately $280,000. Empowered Funds LLC boosted its holdings in shares of Stryker by 74.4% in the first quarter. Empowered Funds LLC now owns 6,938 shares of the medical technology company’s stock valued at $2,483,000 after purchasing an additional 2,960 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Stryker by 14.5% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 855 shares of the medical technology company’s stock valued at $306,000 after purchasing an additional 108 shares during the period. Atomi Financial Group Inc. boosted its holdings in shares of Stryker by 14.9% in the first quarter. Atomi Financial Group Inc. now owns 1,607 shares of the medical technology company’s stock valued at $575,000 after purchasing an additional 208 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its holdings in shares of Stryker by 2.2% in the first quarter. Concurrent Investment Advisors LLC now owns 7,698 shares of the medical technology company’s stock valued at $2,755,000 after purchasing an additional 164 shares during the period. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on SYK shares. Canaccord Genuity Group upped their target price on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. 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. UBS Group upped their target price on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Evercore ISI upped their target price on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $393.65.

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction dated 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 represents a 0.00 % 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 7,347 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,381 shares of company stock valued at $24,825,275 in the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

Shares of NYSE SYK traded up $6.13 during mid-day trading on Friday, hitting $375.96. The stock had a trading volume of 1,009,226 shares, compared to its average volume of 1,183,677. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The company has a 50 day moving average of $361.46 and a two-hundred day moving average of $345.71. Stryker Co. has a twelve month low of $266.93 and a twelve month high of $377.83. The firm has a market cap of $143.32 billion, a PE ratio of 40.30, a PEG ratio of 2.83 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings results 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 company 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 revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm earned $2.46 EPS. Research analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

About Stryker

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.