Stryker Co. (NYSE:SYK) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its stake in shares of Stryker Co. (NYSE:SYK) by 6.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,885 shares of the medical technology company’s stock after selling 1,664 shares during the quarter. Kentucky Retirement Systems’ holdings in Stryker were worth $8,629,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of Stryker by 66,967.5% during the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after purchasing an additional 852,496 shares during the period. 1832 Asset Management L.P. raised its holdings in Stryker by 146.9% during the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after buying an additional 522,817 shares during the period. American Century Companies Inc. boosted its holdings in shares of Stryker by 287.6% in the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after buying an additional 375,166 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Stryker by 49.8% in the second quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock worth $233,553,000 after acquiring an additional 228,139 shares in the last quarter. Finally, Sofinnova Investments Inc. purchased a new position in shares of Stryker in the second quarter worth approximately $65,697,000. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 1.8 %

SYK stock opened at $390.08 on Friday. Stryker Co. has a 1-year low of $282.35 and a 1-year high of $392.70. The business’s 50 day simple moving average is $364.07 and its 200 day simple moving average is $347.33. 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 capitalization of $148.71 billion, a PE ratio of 41.81, a PEG ratio of 2.89 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.46 earnings per share. As a group, research analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Insider Transactions at Stryker

In other news, insider Viju Menon sold 600 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. This represents a 6.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,381 shares of company stock worth $24,825,275. Company insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SYK shares. Citigroup lifted their price target on Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Wolfe Research assumed coverage on Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Barclays raised their price target on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Truist Financial upped their price objective on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price target on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

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.